Dentons has advised Groupama Gan REIM on its acquisition of the Freedom Palace in Budapest.
According to Dentons, Groupama Gan REIM is a French portfolio management company that acted on behalf of SCPI Affinites Pierre. “This is Groupama’s second investment outside of France and the first one ever in Central Europe.”
According to the firm, “designed by Arthur Meining and built in 1901, Freedom Palace was refurbished to the highest standards and offers more than 6,500 square meters of premium office and mixed-use premises ... The investment reflects the desire and commitment of SCPI Affinites Pierre to position itself in landmark buildings located on prestigious sites and leased to quality occupiers.”
Dentons’ team included Budapest-based Partner Marcell Szonyi and Associates Franko Zsombor and Eszter Szolnoki, with further team members in Paris.
Editor's Note: After this article was published, Baker McKenzie announced that it had advised La Societe Generale Immobiliere on the sale of Freedom Palace. The firm's team included Partner Benedek Kovacs and Associates Zsofia Tillinger and Botond Tass.