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DLA and LKT Advise on OTP Acquisition of BSR Center in Budapest

DLA and LKT Advise on OTP Acquisition of BSR Center in Budapest

Hungary
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DLA Piper has advised the OTP Property Fund Management on its acquisition of the BSR Center office building on Vaci ut in Budapest from a real estate fund managed by GLL Real Estate Partners. The seller was advised by Lakatos, Koves and Partners.

The BSR Center has over 22,000 square meters of office space available, 2,000 square feet of retail space, and a 334-space underground garage. With its acquisition, which closed on November 9, the total amount of assets held by OTP Property Fund Management has grown to HUF 200 billion.

The DLA team working on this deal consisted of Counsel Szilard Kui, working alongside Senior Associate Attila Remes and Associate Bettina Boncok. Kui also led the DLA team that advised the OTP Property Investment Fund on its acquisition of the West End Business Center office building in Budapest this past summer (reported on by CEE Legal Matters on August 9, 2017). 

The Lakatos, Koves and Partners team advising GLL Real Estate Partners consisted of Partner Attila Ungar and Senior Associate Agnes Hegyi.

DLA Piper at a Glance

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, helping clients with their legal needs around the world. We strive to be the leading global full-service law firm by delivering quality and value to our clients. With practical and innovative legal solutions, we help our clients succeed.

In Central and Eastern Europe (CEE), DLA Piper continues to grow and now employs more than 320 lawyers, including 46 partners across its six offices in Austria, the Czech Republic, Hungary, Poland, Romania and Slovakia. With our global set-up and established relationship firms across all other CEE jurisdictions, we are among the largest and most experienced international law firms in the region. Through our experience gained advising on a variety of high-profile projects and the long-term relationships we have established with our clients, we have built a reputation as a leading business law firm across CEE.

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