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Schoenherr and CMS Advise Covivio on Lease of Hotels to NH Hotel Group

Schoenherr and CMS Advise Covivio on Lease of Hotels to NH Hotel Group

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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.

Hungary Knowledge Partner

Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

The firm’s lawyers provide clients with advice and representation in an active, thoughtful and ethical manner, with a real understanding of clients‘ business needs and the markets in which they operate.

The firm is one of the largest home-grown independent law firms in Hungary. Currently Nagy és Trócsányi has 26 lawyers out of which there are 8 active partners. All partners are equity partners.

Nagy és Trócsányi is a legal entity and registered with the Budapest Bar Association. All lawyers of the Budapest office are either members of, or registered as clerks with, the Budapest Bar Association. Several of the firm’s lawyers are admitted attorneys or registered as legal consultants in New York.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

The firm advises a broad range of clients, including numerous multinational corporations. Among our key clients are: OTP Bank, Sberbank, Erste Bank, Scania, KS ORKA, Mannvit, DAF Trucks, Booking.com, Museum of Fine Arts of Budapest, Hungarian Post Pte Ltd, Hiventures, Strabag, CPI Hungary, Givaudan, Marks & Spencer, CBA.

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