Skanska sells office building in Budapest, Hungary, for EUR 41 M, about SEK 431 M
Skanska has sold its Nordic Light Trio office building in Budapest to JR AMC, a South Korean real estate investment trust. The transaction is valued at EUR 41 M, about SEK 431 M, and will be recorded by Skanska Commercial Development Europe in the third quarter of 2019. The transfer of the property is scheduled for the second quarter of 2020.
Nordic Light Trio offers a total leasable area of around 14,000 square meters of which 98 percent has already been leased, with the anchor tenant being a multinational healthcare company. Nordic Light Trio is a part of the Nordic Light office complex located on the west side of the river Danube. It is expected to receive LEED Gold and WELL certifications.
Skanska is one of the leading development and construction companies in Europe. Outside the Nordics, the company has European operations in building construction and civil engineering in Poland, Czech Republic & Slovakia and UK. Skanska develops commercial properties in select home markets in Poland, Czech Republic, Romania and Hungary, while the residential development is active in Prague and Warsaw. In 2018, Skanska had sales of SEK 36 billion and about 14,200 employees in its European operations.