ConvergenCE sells Árpád Center – BBJ
ConvergenCE has closed the sale of Árpád Center, a popular office building located at the junction of Árpád híd and Váci út, according to a press release sent to the Budapest Business Journal.
The building was acquired by Investum Kft. During the transaction, ConvergenCE was represented by Cushman & Wakefield.
Csaba Zeley, Managing Director of ConvergenCE, says: “Since purchasing the building in 2019, we have turned the then under-managed and slightly neglected building into a successful project. We rearranged leases, leased vacant spaces and developed a strong, long-term relationship with occupants that valued our flexible owner attitude and tenant-focused property management. Thanks to this, as well as to Investum’s rapid decision-making process, we were able to sell the property off-market, before the date previously set in our business plan. We are happy that our work with the building is still not finished, as the new owner has commissioned us to manage and rent the center of Árpád. “
Zoltán Ligetvári, partner at Cushman & Wakefield concludes: “Despite the difficult environment, we are proud to have met our client’s expectations. The buyer has completed the closing at an unprecedented pace, making Árpád Center the premier office unit in Pest’s growing real estate portfolio.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing worthy journalism is an expensive endeavor. For 27 years, the editors, editors and journalists of the Budapest Business Journal have strived to bring you business news that works – information that is reliable, factual, accurate and presented without fear or favor.
News organizations around the world have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. More recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We want to offer this same opportunity to our readers. We would like to invite you to help us provide the quality business journalism you need. Hit our Support BBJ button and you can choose how much and how often you send us your contributions.