A Major German Investor has Purchased an Office Block Near Nyugati Railway Station

KGAL Group, a German assessment management company has purchased Eiffel Square, an office complex situated at the centre of Budapest, from previous owners Europe Capital – announced Dentons, a legal advisor company assisting in the transaction, to the Hungarian Telegraphic Office.

Eiffel Square is a prioritised office property with a ground-space of 23500 m2, situated in the vicinity of Nyugati Railway Station. The complex has an office space of 18500 m2, while it also has a 2100 m2 area used for retail, with restaurants occupying a further 1700 m2.

“With the purchase of Eiffel Square, KGAL is consistently expanding its European real estate portfolio” – said Gert Waltenbauer, CEO of KGAL Group according to the statement.

KGAL has been creating and managing long-term asset bases since 1968. The company’s service portfolio includes the planning and handling of assets for institutional investors. In December 2015, KGAL Group managed a total amount of investments worth 21.7 billion Euros, and is currently managing the capital of 99 000 investors – including multiple subscriptions – in 116 actively managed funds. Investors have invested a total amount of 7.3 billion Euros in capital in the aforementioned actively managed funds, managed by KGAL. KGAL is currently employing 337 employees.

Source: www.portfolio.hu 

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