CA Immo has successfully completed the sale of the Capital Square office building, located in the Vaci Corridor office submarket in Budapest. The buyer of the property is WING. This transaction represents a further step in CA Immo's strategic capital rotation and serves its objective of a complete withdrawal from the Hungarian market.
The multi-tenant Capital Square building, completed in 2009, boasts a gross leasable area of approximately 34,000 square metres. Additionally, the property includes around 600 parking spaces. At the time of sale, in February 2026, the building had an occupancy rate of approximately 85 per cent. The weighted average unexpired lease term (WAULT) was 4.1 years, and the annualised rental income amounted to roughly 5.7 million Euros.
Strategic Reorientation and Portfolio Optimisation
Keegan Viscius, CEO of CA Immo, explained that the company had decided in 2023 to classify Hungary as a non-core market due to market fundamentals and attractive alternative capital allocation opportunities. The proceeds from the sale of Capital Square can be used flexibly, for example, for general corporate purposes, value-enhancing investments in the existing prime portfolio, debt repayment, share buybacks, and external investments should such opportunities arise.
Hedwig Höfler, Group Head of Investment Management at CA Immo, emphasised that the successful completion of a total of four property sales in 2025 and 2026, including the most recent transaction, indicates a regained strength in the market. The company is confident that the quality of its remaining portfolio will attract further investors.
In connection with this transaction, CA Immo was advised by CERHA HEMPEL Rechtsanwälte and CBRE. Following the sale of Capital Square, CA Immo's Hungarian portfolio on 31 March 2026 still comprised four office buildings in Budapest. These properties have a total leasable area of approximately 72,000 square metres and a book value of around 140 million Euros.
- —Three properties are part of the Millennium Complex.
- —The fourth remaining property is the City Gate office building.
All buildings still remaining in CA Immo's Hungarian portfolio possess a sustainability certification, either BREEAM Very Good or LEED Gold, which underscores the quality and future viability of the properties.
