Schoenherr’s Budapest and Prague offices have advised Covivio on its lease of the Carlo IV hotel in Prague and the New York Palace and New York Residence hotels in Budapest to the NH Hotel Group. CMS advised the NH Hotel Group on the deal.
Financial details of the lease were not disclosed.
Covivio is a European real estate investor with EUR 25 billion in assets. Its primary areas of focus are offices spaces, hotels, and residential buildings. The hotels were among those that Covivio acquired from Varde Partners earlier this year (as reported by CEE Legal Matters on February 27, 2020).
NH Hotel Group is a multinational company which operates over 350 hotels across Europe and America. It was founded in 1978 and is currently headquartered in Madrid, Spain.
Schoenherr’s team, in Hungary, consisted of Head of Real Estate & Construction Laszlo Krupl, Partner Kinga Hetenyi, Attorney-at-Law Daniel Varga, and Associate Adrian Menczelesz. In the Czech Republic, the firm's team included Partner Martin Kubanek, and Attorneys-at-Law Viktor Pakosta, Eva Purgerova, and Jiri Marek.
CMS's team included Hungarian Partner Gabor Czike and Senior Associate Andras Klupacs.
Editor's note: After this article was published, CMS informed CEE Legal Matters that Prague-based Partner Lukas Hejduk and Prague-based Associates Michal Samek, Petr Koral, Magda Nemcovam and Lukas Reichman were on the firm's team as well.