News Article Wing sells Budapest city logistics scheme for €29 million
by Ákos Budai | Investment

Diófa Asset Management has purchased the South Pest Business Park from Wing Zrt. The new owner is Magyar Posta Takarék Property Investment Fund, which is Hungary's second largest domestic open-ended fund. The city logistics scheme, located in the 9th district, is 90% occupied.  The South Pest Business Park was transacted for app. €29.1 million (HUF9 billion).

The 34,400 sqm city logistics property includes 22,900 sqm of warehouse area. It was developed by Wing between 2005 and 2013. 

Diófa Asset Management represents four property investment funds and is committed to build a diversified portfolio in Hungary. Besides a strong modern office stock, the company started to build a retail portfolio in 2016, resulting in one third share of the annual retail investment transactions in Hungary. With this new deal, the industrial share of the property portfolio increased from 9% to 20%. 
 
By representing one open-ended and three private real estate funds, Diófa Asset Management transacted a total of €320 million in three years. Its 270,000 sqm property portfolio is currently 95% occupied.