CMS has advised Kopaszi Gat Kft. on the sale of property in Budapest to the MOL Hungarian Oil and Gas Company, which will use it for the development of its new built-to-suit office building. Weil Gotshal & Manges advised MOL on the acquisition.
The 83,000 square meter and 120-meter high building located in Kopaszi Gat — a park by the Danube River featuring paths for jogging & grassy lawns for playing — will serve as the headquarters of MOL Group from 2021 and will, in the future, be a workspace for up to 2500 employees.
According to Weil Counsel Ferenc Matrai, "we advised MOL on the acquisition and will continue to assist them with the development of the project, which is unique to some extent as this will be the first high-rise building in Budapest."
The CMS team advising Kopaszi Gat Kft. was led by Real Estate Partner Gabor Czike and included Senior Associate Andras Klupacs.
In addition to Matrai, the Weil team included Senior Associate Eva Kovacs, and Junior Associate Luca Varga.