Skanska sells Hungarian office asset to South Korean trust

Skanska, a Swedish multinational construction and development company, has sold its Nordic Light Trio office building in Budapest to JR AMC, a South Korean real estate investment trust.

The transaction marks Skanska’s second transaction with an Asian investor and first with a South Korean buyer, said Adrian Karczewicz, head of divestments at Skanska, in a statement.

It is the buyer’s first office investment in Central Eastern Europe (CEE), following previous acquisitions in Vienna, Dublin and Paris.

The price of the sale was not disclosed at the time of publication.

Nordic Light Trio is a seven-story, class-A office project scheduled to be delivered in the second quarter of 2020. The building comprises 14,000 square meters of lettable space, which is 98 percent occupied. It also includes 221 parking spaces.

The building is located near the river Danube and is part of already-completed Nordic Light office complex located in Váci Corridor. Upon