Skanska Sells Office Project in Budapest
Sweden Skanska sold Mill Park, a two-building office project in Budapest, Hungary, to the real estate fund of Erste Alapkezelő Zrt., a subsidiary of Erste Asset Management GmbH, for EUR 100M.
The Mill Park complex is located in the 9th district of Budapest, an established office location within the Central Pest Submarket and close to some of the city's cultural and academic institutions. The property comprise of two office buildings with a total leasable area of about 36,000 square meters. The complex is already leased to about 80 percent to multiple tenants. Mill Park offers a 5,500 square meters multifunctional garden with a green area and recreational facilities. Outdoor co-working spaces, an amphitheater, a restaurant and a café is also available for tenants.
The Mill Park complex will be completed in the third quarter of 2018 and is expected to receive LEED Gold (Leadership in Energy & Environmental Design) certification.