Raiffeisen Real Estate Fund - Sale of Kesmark Office Building
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.
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 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.