News

Skoglund Holding relaunches as CBS Property

2009.09.17.

Following its recent acquisition, Skoglund Holding Zrt. has renamed and rebranded as CBS Property Zrt. This change is in conjunction with a change of office address as CBS Property moves to H-1133 Budapest, Váci út 76 from 18 September.

Skoglund Holding was acquired by UK investment firm Chayton Sava and US investment firm C V Starr in 2008 from Bankár who retains a minority shareholding. Since the acquisition, John Verpeleti, former regional investment head for AXA REIM and former head of DTZ for Central and Eastern Europe has taken over as CEO.

The change of name also heralds a change in the activity of the company and sees it transform from a static owner of land in to a dynamic development company. Owning some 10,000,000 sq m of land in strategic locations in and around Budapest CBS Property has identified sites that are ideally suited for a combination of residential, logistics and mixed use developments.

John Verpeleti, CEO, comments ‘This is an exciting time us as we seek to actively develop these sites and maximise their potential value. Our goal now is to develop our sites either ourselves or in joint venture arrangements with local and international partners.’

CBS Property is currently working on a new website which will give a full overview of all of their sites available and the associated development opportunities.

For further information, please contact:

John Verpeleti
CEO, CBS Property Zrt
Tel: +36 (1) 8027 300
john.verpeleti@cbsproperty.hu