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Raiffeisen Real Estate Fund - Sale of Kesmark Office Building


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The Challenge

Cushman & Wakefield was instructed by Raiffeisen Real Estate Fund to sell a selected portfolio of property including light industrial warehousing, several retail units and bank branches throughout Hungary, two shopping centres and their back office building located in Budapest.

Késmárk is an A category office building comprising 14,747 sqm, leased for another13 years to Raiffeisen Bank.


The Solution

In a very difficult market following an extensive marketing campaign C&W managed to secure several strong offers pushing the purchase price above the client’s expectations. With our professional advice and guidance the due diligence process was smooth and closed within a few weeks without any red flag issues.


The Results

The deal was closed on time despite the difficult market and economic conditions.

C&W are still acting for Raiffeisen selling the other parts of the portfolio.

Contact

Mike Edwards

CMG Hungary, Head of Valuation CEE

International Partner

Budapest, Hungary

Phone +36 1 484 1385

Contact me