Noerr has advised AEW Europe on the acquisition financing of the Luxus Aruhaz retail unit at Vorosmarty square in the heart of Budapest. The transaction was financed by UniCredit Bank AG Vienna, which was represented by Wolf Theiss.
Noerr describes Luxus Aruhas as a "magnificent and famous building in the heart of Budapest [that] was built in 1911 in Art Nouveau style and is used for residential and business purposes." The building was renovated in 2017.
The Noerr team was led by Frankfurt-based Partner Andreas Naujoks and Budapest-based Associated Partner Edina Schweizer, and it included Frankfurt-based Partner Karsten Fink.
The Wolf Theiss team included Austrian Counsel Michaela Zakharian, Budapest-based Senior Associate Melinda Pelikan, and Budapest-based Associates Diana Boross-Varga and Laszlo Lovas.
Editor's Note: After this article was published Dentons informed CEE Legal Matters that it had advised AEW on the underlying acquisition of the building. The firm's team was led by Budapest-based Partners Judit Kovari and Marcell Szonyi and included Budapest-based Associates Anna Gerendas, Boglarka Zsofia Joo, Rita Varnagy, and Zsofia Lascsik.