- GTC acquired the Váci Greens D office building in Budapest.
- It is an A-class office building located in the Váci Office Corridor, the Northern part of the city.
- This acquisition enriches the GTC’s Hungarian office portfolio of modern, green buildings.
GTC, a leading developer and asset manager in Central and Eastern Europe, has decided to extend its Hungarian portfolio with the new development, the Váci Greens D office building in Budapest. The transaction is partially financed from the green bonds issued in 2020 and is in line with the Group strategy to invest in sustainable portfolio of commercial buildings located in the CEE capitals.
Just a few weeks before the publication of the 2020 financial results, GTC demonstrates the Group’s strength as well as a unique ability to seize new opportunities during the challenging times of the COVID-19 pandemic. New acquisition, Váci Greens building D offers 16,027 sq. m of modern space that meets tenants’ highest convenience standards during daily work with all necessary amenities present including an attractive terrace area, various retail units such as restaurants or fashion brands as well as 246 parking spaces. Some funds for the purchase came from the issuance of green bonds.
The building fits into GTC’s sustainable portfolio of green developments that ensure tenants’ health and well-being. The Váci Greens D office building complies with the BREEAM requirements, achieving the “Excellent” certification in its design. The acquisition will be partially financed from green bonds issued at the end of 2020.
“Last year we have sold one of our long-lasting assets, Spiral office building. Seeking new opportunities on the market, we decided to acquire Váci Greens D located in Budapest, that fits our portfolio and meets our requirements in terms of modern and sustainable A-class projects. We consequently continue our strategy, offering our tenants the highest standards that now in the pandemic are needed more than ever before” – commented Yovav Carmi, President of the Management Board of GTC.
The property is a part of the larger office complex located in the “office corridor” of Budapest. It distinguishes with excellent communication links by metro and the major artery of Váci út. The Váci Corridor reminds the most prestigious office localization in Budapest attracting leading Hungarian and international companies. The office building is almost fully occupied with reputable prime tenants including Unilever, AVON, and Ford.
Together with the purchase of the Váci Greens D property, GTC Hungary manages the portfolio of state-of-the-art developments offering 88,400 sq. m of office space, including Center Point, Duna Tower, and GTC Metro. Additionally, GTC is developing Pillar, an extraordinary project that will offer 29,000 sq. m office space and has been fully rented before commissioning planned for Q1 2022.