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.