Updated Oct 28, 2024
Futureal Group Secures €60M Construction Loan From Erste Bank For Budapest Office Property
Budapest, Oracle Hungary Kft, Balatoni út 2, 1112 Hungary
$60,000,000
$929/SF
Building Size
64,583 SF
Asset Type
Office
Closing
Sep 11, 2021
About this deal
AI
The property involved in this closed transaction is an office space located at Balatoni út 2, Budapest, Hungary. The asset spans a total area of 64,583 square feet. The transaction took place in Budapest's real estate market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: €60,000,000
- Loan Type: Construction
- Lender: Erste Bank - Tamas Deak
- Landlord: Futureal Group - Tibor Tatar
Key individuals involved in this deal include Tamas Deak, representing the lender Erste Bank, and Tibor Tatar, representing the landlord Futureal Group.
Players
Market Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93