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LKT and CMS Advise on Horizon Development’s Sale of Szervita Square Building to Union Investment

LKT and CMS Advise on Horizon Development’s Sale of Szervita Square Building to Union Investment

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Lakatos, Koves & Partners has advised Horizon Development on the sale of the commercial part of its Szervita Square Building to Union Investment. CMS advised the buyer.

According to LKT, the "Szervita Square Building is an exceptional technical and aesthetic quality downtown Budapest asset with a diverse tenant mix and over 95% commercial occupancy level. The office and retail areas are well separated from the top floor luxury residential units in all aspects, which made the asset suitable for investment for institutional investors."

"The successful sale of the Szervita Square Building to a German core investor – re-entering the Hungarian property investment market with the current transaction – proves the international development competence and extremely high quality and sustainability standards of Horizon Development," LKT Partner Attila Ungar commented.

The LKT team was led by Ungar and consisted of Lawyers Julia Varkonyi, Agnes Hegyi, Kata Molnar, Csenge Varadi, and Agnes Abraham.

The CMS team included Partners Jozsef Varady and Gabor Czike, Senior Counsel Andras Klupacs, and Senior Associate Zsofia Zsurzsa.

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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