Hungary Erste Fund's landmark deal

The PT2 and PT3 buildings in the HelloParks Budapest West megapark were built to the BREEAM New Construction’s Outstanding standard and comply with EU Taxonomy regulations. Tenants include international logistics firms like Gebrüder Weiss and Transdanubia. Despite the sale, HelloParks will continue managing the properties’ technical operations. According to the parties to the deal, this marks the largest transaction of the decade in Hungary.

Space demand and rental growth have been strong for several years now, underpinned by a massive nearshoring and industrialization trend, in which Hungary has been the clear regional winner, however until recently, transactions have been scarce. This deal is a sign of returning liquidity and will catalyze further investor activity. The early movers will reap the rewards of healthy yields, strong space demand, rental growth and limited supply of land and being able to access the very limited ESG compliant stock.
Gábor Futó, founder of HelloParks and Futureal Group

The buildings are equipped with heat pump-based cooling and heating systems, while featuring rooftop solar panels capable of reducing offices’ primary grid energy consumption to zero. An intelligent BMS continuously monitors and optimises heating, ventilation, air conditioning, water, and electrical systems while detecting potential leaks. Tenants have complete control over their spaces via HelloParks’ proprietary mobile app.

HelloParks Páty megapark is strategically positioned along the M1 motorway in Budapest’s western agglomeration. Spanning 87 ha, the site will ultimately offer 384,000 sqm of industrial space, with 142,000 sqm already completed and another 42,000 set for delivery this year.