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Dentons and LKT Advise on Sale of Budapest’s Vaci 1

Dentons and LKT Advise on Sale of Budapest’s Vaci 1

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Dentons has advised GLL Real Estate Partners, a Munich-based international real estate investor and asset manager, on the acquisition of Vaci 1, a landmark retail and office building in downtown Budapest for a separate account mandate from Bayerische Versorgungskammer, from Horizon Development, a Hungarian real estate development, property management, leasing and marketing company. Lakatos, Koves & Partners advised Horizon on the deal. 

Dentons describes Vaci 1 as "a prestigious mixed-use commercial building with UNESCO World Heritage status, at the head of Budapest’s famous Vaci utca, offering a 13,750 square meter leasable area." According to the firm, "premium existing lessors include the H&M Budapest flagship store - occupying 3 complete floors of the Vaci 1 building, Hard Rock Cafe Budapest,  Szamos Gourmet Palace, DVM group, and Play’n GO."

The Dentons team was co-led by Budapest-based Partner Judit Kovari and Warsaw-based Partner Pawel Debowski, supported by Budapest-based Of Counsels Marcell Szonyi and Adam Kaplonyi and Associates Boglarka Joo, Luca Bokor, Anna Gerendas, Zsofia Lascsik, and Tamas Nemcsok.

The Lakatos, Koves & Partners team consisted of Partner Attila Ungar and Associates Agnes Hegyi, Katalin Losonci, Balazs Kantor, and Orsolya Pass.

Image Source: vaci1.hu

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Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

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