Oktogon House Retains its Tenants
One more tenant, IND decides to renew its lease contract in Oktogon House.
IND Group, founded in 1997 and under Hungarian ownership, is market leader in the field of software development for financial institutions. The Budapest office of the enterprise, which was once launched with only a few people and has received several trade awards and much recognition in the past years, has been accommodated by Oktogon House as of 2005, where they signed a lease contract for another five years.
“Oktogon House is especially popular among its tenants do to its excellent downtown location, easy accessibility and the multi-storey parking garage connected to the office building” – said Kay-Uwe Blandow, Managing Director of IVG Hungary Kft., the lessor. “It is important to us that our tenants feel comfortable in their offices and we consider it evidence thereof that up till now we have always renewed the lease contracts in Oktogon House upon their expiry. It is not a rule of thumb that only newly built office buildings can be successful, as Oktogon House is operated at a lease-out level over 80 % too as a result of competent property management, what is more, among its tenants there are such recognized international companies as IND Group, Kelly Services and Resilux.”
Moreover, IND Group signed a declaration of intent too in July to lease further areas.
IVG Hungary Kft. was assigned by investment company HGA Capital (Germany) to perform the property management of Oktogon House together with five other office buildings in November 2009. The office building offers a modern office work environment to its tenants on a total floor area of about 7,280 m2 at Oktogon in District VI.
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.