DRFG expands into Hungary

The DRFG Investment Group has entered the Hungarian commercial real estate market with its acquisition of the Bartók Ház office building in central Budapest from CA Immo. 

Bartok Haz

The transaction, which adds over 17,600 m2 of leasable space to DRFG's portfolio, marks a significant milestone for the company, establishing its first commercial property in Hungary. 
Regional development company TriGranit, which is part of the DRFG Group, will play a crucial role in the building's asset management, spearheading investments aimed at improving ESGparameters, and overseeing leasing activities. 
Bartók Ház, completed in 2003, is a high-quality Class A office building renowned for its excellent transport accessibility in a central district of Budapest. It boasts a diverse tenant roster including prominent domestic and international companies such as DXC Technology, Lidl, Novartis, Sandoz, Mandiner Novum, and Mathias Corvinus Collegium Alapítvány. The property also holds a BREEAM "Very Good" environmental certification and offers an above-standard number of parking spaces.
Jan Pelíšek, director of the Real Estate Division at DRFG, commented: "I am pleased that we have completed another acquisition. This is an attractive property in a prestigious location that fits perfectly into our long-term strategy for growth and diversification. Bartók Ház is the Group’s first office and commercial property in Hungary, yet we already see additional opportunities in this market that we intend to pursue."
Tomasz Lisiecki, CEO of TriGranit, stated: "We see Budapest and the entire Hungarian market as highly promising. With our long-standing knowledge of the market and a strong local team, we identified numerous opportunities for further development. Bartók Ház is a stable asset with a strong tenant portfolio, providing us with scope for further value creation."
Christoph Buchgraber from CA Immo added: "We are delighted that we have been able to secure DRFG as a long-term investor for this property and wish TriGranit continued success in managing Bartók Ház."
The buyer was advised by CBRE, Bird & Bird, and Sentient, while Eston advised the seller.