{"id":14499,"date":"2019-06-25T06:48:53","date_gmt":"2019-06-25T04:48:53","guid":{"rendered":"https:\/\/hihinvest-gyeegbg7hxdxf8d4.a01.azurefd.net\/warburg-hih-invest-buys-white-house-in-budapest\/"},"modified":"2025-02-13T22:50:38","modified_gmt":"2025-02-13T21:50:38","slug":"warburg-hih-invest-buys-white-house-in-budapest","status":"publish","type":"post","link":"https:\/\/hih-invest.de\/en\/warburg-hih-invest-buys-white-house-in-budapest\/","title":{"rendered":"Warburg HIH-Invest buys White House in Budapest"},"content":{"rendered":"<ul>\n<li>New-build office scheme of 22,300 square metres acquired  <\/li>\n<li>Long-term leases with BlackRock, Jaguar Land Rover and Spaces in place <\/li>\n<li>Property earmarked for an individual fund  <\/li>\n<\/ul>\n<p><strong>Hamburg, 25. June 2019<\/strong> \u2013 Warburg-HIH Invest Real Estate (\u201cWarburg-HIH Invest\u201d) acquired an LEED Platinum certified new office building in Budapest on behalf of an open-ended special AIF of an institutional investor. The White House, developed by the GTC Group, was completed in summer of 2018 and has a gross lettable area of 22,300 square metres. The property is fully occupied, the main tenants being investment fund manager BlackRock, Jaguar Land Rover and the Dutch co-working provider Spaces. The average lease term is 8.2 years. It was agreed not to disclose the purchase price. <\/p>\n<p> \u201cWith this acquisition, we transacted a property investment that is sustainable in every way,\u201d said Matthias Brodesser, Head of Transaction Management International at Warburg-HIH Invest. \u201cSince 2010, Hungary\u2019s economic output has grown at a stable annual rate of 2.25 percent while wage increases combine with virtually full employment. In addition to the positive economic aspects, the high environmental compatibility of the property has been verified by its LEED certification.\u201d <\/p>\n<p>The GTC White House is located in the office submarket along the V\u00e1ci Ut corridor in the 13th district of the Hungarian capital. \u201cDue to its background as a 20th-century industrial centre and the convenient transport links to the inner city, the area has developed into a preferred location for office tenants,\u201d explained Sebastian Pende, Real Estate Manager at Warburg-HIH Invest Austria. \u201cAverage office rents in this area, which is marked by brisk building activity and robust take-up, are growing by 2.8 percent annually.\u201d  <\/p>\n<blockquote  class=\"blockquote\"><p> <em>\u201cWith this acquisition, we transacted a property investment that is sustainable in every way. Since 2010, Hungary\u2019s economic output has grown at a stable annual rate of 2.25 percent while wage increases combine with virtually full employment. In addition to the positive economic aspects, the high environmental compatibility of the property has been verified by its LEED certification.\u201d <\/em> <\/p>\n<p><strong> Matthias Brodesser, Head of Transaction Management International <br \/> Warburg HIH Invest<\/strong><\/p>\n<p>  <em> \u201cDue to its background as a 20th-century industrial centre and the convenient transport links to the inner city, the area has developed into a preferred location for office tenants. Average office rents in this area, which is marked by brisk building activity and robust take-up, are growing by 2.8 percent annually.\u201d <\/em> <\/p>\n<p><strong> Sebastian Pende, Real Estate Manager <br \/> Warburg HIH Invest<\/strong><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>New-build office scheme of 22,300 square metres acquired Long-term leases with BlackRock, Jaguar Land Rover and Spaces in place Property 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