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Schoenherr and HP Legal Advise on S-Immo’s Acquisition of BudaPart Gate from MAM

Schoenherr and HP Legal Advise on S-Immo’s Acquisition of BudaPart Gate from MAM

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Schoenherr has advised S-Immo on its acquisition of the BudaPart Gate office building from Market Asset Management. HP Legal Hajdu & Partners advised the seller.

According to Schoenherr, the 20,000-square-meter BudaPart Gate office building, located in Budapest, is the first office building constructed in the BudaPart urban development area and is 100% occupied. The transaction is expected to close by the end of 2021.

S-Immo is an Austria-based real estate investment company managing approximately EUR 2,5 billion in real estate assets in Austria, Germany, and the CEE region. Market Asset Management is a subsidiary of the Hungarian construction company Market Epitoin.

"BudaPart Gate exactly matches our vision of a high-quality, modern, and sustainable office building," S-immo Management Board Member Herwig Teufelsdorfer commented. "We are very pleased to have expanded our portfolio in Budapest with a property that is ESG-compliant across the board. The property's high occupancy rate and earning power will have an immediate positive impact on our cash flow."

The Schoenherr team was led by Vienna-based Managing Partner Michael Lagler and Budapest Head of Real Estate Laszlo Krupl and included Vienna-based Counsel Rainer Clemens, as well as Budapest-based Associates Adrian Menczelesz, Anita Vertes, and Viktoria Magyar.

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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