Successful assignment

IVG Hungary Kft. successfully completes its asset management assignments; it has already signed 23 lease contracts this year for a lease area over 11 thousand m2.

IVG Hungary Kft. has been engaged in asset management activities since 2009. It was awarded its greatest assignment in November last year, by investment company HGA Capital (Germany), to manage their 7 properties located in Budapest. With this assignment included IVG has obtained the management of as many as 15 commercial properties by 2010.

This task as a new challenge is being faced by IVG very effectively, as this year it has signed or renewed 23 lease contracts so far in the buildings under its management; out of this in HGA’s buildings it has increased the owner’s lease income by an area over 8,000 m2, also increasing the lease-out rate of the houses, which is now over 75 % on the average.
“Increasing the lease-out rate is one of our primary tasks within our asset management assignment” – said Kay-Uwe Blandow, Managing Director of IVG Hungary Kft. “Increase in lease income is a consideration important not only for the investor, as our incomes are also closely related to the lease income, therefore we also profit from this success. We believe that our Client can be satisfied with what we have accomplished so far; in case of Infopark Building B for example we have increased the lease-out rate of the building by over 30 %.”
It is a paramount achievement that the lease-out rate of office building Andrássy 11 reached 100 % after the fashion brand REPLAY signed a lease contract for the last vacant ground floor business premises. They plan to open the new shop on Andrássy Avenue in December.

However, the success IVG Hungary Kft. can report on is not limited to that achieved in connection with the properties managed within the Budapest portfolio of HGA, as StefániaPark office building also is going to accommodate a new tenant in the near future, namely Segafredo Zanetti Hungária Kft., the Hungarian branch of the Segafredo coffee chain, the leading espresso producer in Italy.

Besides successful management of the existing portfolio IVG Hungary Kft. aims at winning further asset management assignments.
IVG Immobilien AG is one of the major real estate companies in Europe. The company manages assets worth € 22.1 billion and is represented with approx. 600 employees in 18 selected major German and European cities. Via its network of local branches IVG manages inter alia on-balance properties with a market value of € 4.3 billion. In northern Germany IVG constructs and operates underground storage caverns for oil and gas. In the fund segment IVG is the leading provider of tailored property funds for institutional investors. In combination with the closed-end funds for private investors, IVG manages funds and mandates amounting to a total volume of € 15.5 billion.