Monday, 2 February 2026
CA Immo has finalised the sale of Millennium Tower I, an office property located in Budapest’s Central Pest office submarket. The transaction forms part of the company’s ongoing capital rotation strategy aimed at concentrating its investment portfolio on modern, high-quality office assets within its core markets.
Millennium Tower I was completed in 2006 and is one of several buildings within the Millennium Towers office park on the Danube riverbank, adjacent to landscaped green areas. The multi-tenant building provides approximately 18,800 sqm of gross leasable area and around 270 parking spaces. As of November 2025, the property reported an occupancy rate of roughly 87 percent, a weighted average unexpired lease term (WAULT) of seven years and annualised gross rental income of about €3.1 million.
According to CA Immo CEO Keegan Viscius, the company reclassified Hungary as a non-core market in 2023 in response to market conditions and alternative capital allocation opportunities. He noted that the disposal represents another step toward a planned exit from the Hungarian market. Proceeds from the sale may be used for general corporate purposes, reinvestment into prime assets, debt reduction, share buybacks or external investments, depending on available opportunities.
Hedwig Höfler, Group Head of Investment Management at CA Immo, stated that while transaction volumes in Budapest were subdued in 2023 and 2024, investment activity strengthened in 2025. She added that the completion of three sales during the year reflects improving market sentiment and expressed confidence that the company’s remaining assets will continue to attract investor interest.
The disposal aligns with CA Immo’s long-term strategy to prioritise large, Class A office properties in prime inner-city locations. Assets that fall outside the company’s core criteria in terms of location, building quality, age or value-creation potential are being gradually divested as part of portfolio optimisation efforts focused on quality and sustainability.
CERHA HEMPEL Rechtsanwälte and CBRE acted as advisers to CA Immo on the transaction.
As of 30 September 2025, CA Immo’s portfolio in Hungary comprised six office buildings in Budapest with a combined lettable area of approximately 125,000 sqm and a book value of around €246 million. All properties hold either BREEAM Very Good or LEED Gold sustainability certifications.
