The portfolio is comprised of three office buildings: Kalvin Centre (9,175 sqm), Duna Office Centre (12,650 sqm) and Baross 52 (5,450 sqm) as the company informed. ConvergenCE Hungary will be responsible for the asset management of the portfolio. Duna Office Centre will be subject to a comprehensive refurbishment to offer highly specified but cost effective space for large tenants, while both Kalvin Centre and Baross 52 will also undergo smaller repositioning measures.
Neither the seller nor the purchase price were disclosed but the firm said it bought at below replacement cost.
Europa Capital, part of The Rockefeller Group which is owned by the giant Japanese Mitsubishi Financial, focuses on value-add investments through risk-based acquisition strategies and active asset management on behalf of investors.