Wigan Acquisitions, has partnered with a Hong Kong private investment fund to purchase the K6 building in Astoria, a landmark area of downtown Budapest.  Read more

portfolio.hu

They bought the Austria House office building, one of the most sought after parts of the Budapest business district. The buyer is a Wigan Acquisitions real estate investor – listed in the PropertyEU article.

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Wigan Acquisitions has completed the purchase of a multi-let office building in central Budapest, taking the total capital deployed on behalf of its family office and private equity partners to €135 mln.

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Budapest-based investment company Wigan Acquisitions has completed the acquisition of a multi-let office building in central Budapest, taking the total capital deployed on behalf of its family office and private equity partners to EUR135 million.

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Wigan Acquisitions has started the new year with the completion on a multi-let office building in central Budapest, taking the total capital deployed on behalf of its family office and private equity partners to €135m. Austria House, a modern office building of 3,400 sqm GLA over ground level and 8 upper floors with the benefit of 41 underground car parking spaces, as well as being close to major public transport hubs, is in a prime downtown location of Budapest’s historic centre.

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Capital Pro City Summit – Prague, Czech Republic – March 21-22, 2018

Over the past two decades, Central and South Eastern Europe has experienced remarkable economic transformations.  It is estimated for every single percentage point of growth in the eurozone, the CEE and SEE countries are expected to grow by up to 1.5 to 3.5 percentage points.

Joining the podcast to discuss opportunities in Central and South Eastern Europe is Patrick Wigan, Director at Wigan Acquisitions.  Wigan Acquisitions is a family office and private equity backed investment company targeting direct real estate and non-performing loan portfolios across Central and South Eastern Europe.

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Budapest-based investment company Wigan Acquisitions has launched CERESA (‘Central Europe Real Estate Separate Accounts’) as a bespoke asset management platform for family offices and other principal equity partners looking to invest in direct real estate across the core markets of Central and South Eastern Europe.

CERESA is focused mainly on city centre retail (high street & food retail), core office buildings and alternatives such as purpose-built student housing projects. The main attraction being the long-term sustainable income prospects, capital appreciation and added-value potential through proactive asset management initiatives.

With a team of six local partners based in Prague, Vienna, Budapest and Zagreb, CERESA’s key advantages include being able to effectively source investment opportunities based on partners’ key preferences; fully appraise; secure debt finance; structure tax efficient joint-venture structures and offer full local asset management capabilities.

View article on LinkedIn.

www.euromoneyseminars.com

Wigan Acquisitions’ Patrick Wigan outlines why co-investment strategies, NPL writedowns, and ‘deleveraging for growth’ is an effective means to drive attractive returns for institutional investors and a boost to deal volumes.

Our company Wigan Acquisitions is a family office and private equity backed principal investment company specialising in Central and South Eastern European direct real estate co-investments, asset management and private equity fund-raising.

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CIJ Europe

Is the CEE/SEE region likely to attract more institutional investment? (and if so why?)

We tend to work more with family office and private equity capital partners rather than institutional investors, but believe that CEE/SEE likely to attract more commitments based on two main reasons: 1) capital in general increasingly targeting investments across the CEE/SEE region that offer the benefits of core locations/fundamentals at higher yield/opportunistic pricing on a relative basis compared to western Europe; and 2) pan-CEE/SEE NPL portfolios only just starting to be transacted, which should lead to attractive onward sale prospects for individual assets and portfolios without legacy debt liabilities as well as the increased supply helping to prevent yields from compressing too rapidly.

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