An international investment consortium comprising Wing, Morgan Stanley Real Estate Investing and CC Real has sold the West End Business Center office building in Budapest to OTP Property Investment Fund.
Wing has been taking part in the operation of West End Business Center as a co-owner and asset manager. The refurbishment of the office building has kicked off recently, and under the agreement it will continue even after the closure of the transaction and be completed by the end of 2018.
The office complex offers available office space of over 26,000 sqm, over 1,000 sqm of store area and a two-story garage hall.
Income-producing properties are becoming an increasingly appreciated option for Romanian or foreign private investors who have previously been mainly active in the residential sector and who are now targeting...