CA Immo has sold the 17,700 sqm Bartok Haz office building in central Budapest to an institutional investor, marking its second disposal in the Hungarian capital this year as part of its strategic withdrawal from the market.
The multi-tenant property, completed in 2003, provides 408 parking spaces and has a gross leasable area of 17,700 sqm. As of September 2025, the building reported an occupancy of around 95% and a weighted average unexpired lease term (WAULT) of five years, generating an annualised in-place gross rental income (GRI) of €3.5 million.
CA Immo CEO Keegan Viscius said the transaction underscores the company’s focus on capital rotation and portfolio optimisation: “Based on market fundamentals and attractive alternative capital allocation options, we have decided to reclassify Hungary to a non-core market in 2023. Following the recent sale of the IP West office property in Budapest, this transaction is a further step in the implementation of our strategic capital rotation programme and towards our exit from the Hungarian market.”
He added that proceeds from the sale could be deployed across debt repayment, share buybacks, prime portfolio investments, or opportunistic external investments.
Commenting on the broader market outlook, Hedwig Höfler, Head of Investment Management at CA Immo, noted: “Budapest’s office investment market is recovering and has already overtaken the transaction volumes of 2024. Especially foreign investors have once again turned their attention to investment opportunities in Hungary. We have successfully closed two transactions this year and are confident our quality portfolio will attract further investors.”
The disposal aligns with CA Immo’s strategy of concentrating on large, high-quality Class A office assets in prime inner-city locations. The company continues to sell assets that do not fit its core business profile in terms of location, quality, age, or value-creation potential.
CERHA HEMPEL Rechtsanwälte and Eston International advised CA Immo on the transaction.
As of June 30, 2025, CA Immo’s Hungarian portfolio comprised seven Budapest office buildings with a total lettable area of approximately 140,000 sqm and a book value of around €260 million. All Hungarian assets hold BREEAM Very Good or LEED Gold certifications.
