Atenor announces the successful sale of RoseVille office building in Budapest
Atenor announces the successful sale of the iconic RoseVille office building located in Budapest, Hungary. This transaction is a significant achievement in Atenor’s operational plan and a major milestone in the Budapest investment market for the year 2023.
In spite of difficult market conditions, Atenor succeeded to close this transaction which will have a positive impact on Atenor’s cash position of around €20 million, and will reduce the consolidated debt by €9.5 million. This transaction will have no impact on 2023 results, but could have a positive impact on the future company’s results, with the conclusion of future lease agreements (60% of the space having already been rented).
RoseVille is a prime office building located in North Buda, with a gross leasable area of 15,500 square meters, and was handed over in the summer of 2023. Tenants include international companies like Veeva Systems, L’Oréal and Red Bull. The sale of this state-of-the-art facility is a testament to Atenor’s commitment to delivering high-quality, sustainable real estate projects in prime locations. The buyer is a Hungarian Fund set up by international investors.
“While the sector is facing a slowdown, Atenor has been able to propose to an investor an attractive investment with top sustainable quality that meets the evolving needs of businesses and investors. This deal represents a significant achievement for our company and reinforces our position as a prominent player in the Hungarian real estate market“, said Stéphan Sonneville, CEO at Atenor.
Atenor – Upgrade the Future
Atenor is a sustainable real estate development company recognised as a Global Listed Sector Leaders by the GRESB, with pan-European expertise and listed on the Euronext Brussels market. Its mission is to respond to the new demands of the evolution of urban and professional life through sustainable urban planning and architecture. In this context, Atenor invests in large-scale real estate projects that meet strict criteria in terms of location, economic efficiency and respect of the environmental. Atenor is recognised as an international and sustainable urban developer, aligned with the European taxonomy and aiming for the highest classifications of BREEAM and WELL certifications.
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