Kinstellar has advised S Immo on its EUR 238.3 million acquisition of Budapest office properties and a land plot from the CPI Property Group. Dentons advised the seller.
According to Kinstellar, the sold properties included the Gateway Office Park, Arena Corner, Andrassy Palace, and the five-part BC99 Office Park. The buildings have a total lettable area of around 109,000 square meters.
S Immo is a Vienna-listed real estate investor and developer focusing on Austria, Germany, and CEE.
The CPI Property Group is a real estate company focusing on long-term investments and real estate leases in Central Europe and Germany.
Kinstellar previously advised S Immo on its acquisition of EXPO Business Park in Romania from Portland Trust (as reported by CEE Legal Matters on April 22, 2022).
The Kinstellar team was led by Managing Associate Barnabas Sagi and included Associate Bertalan Vanya and Junior Associate Anna Szilagyi.
The Dentons team was led by Partner Marcell Szonyi and included Partner Gergely Horvath, Senior Associate Aron Karolyi-Szabo, Associates Rita Varnagy, Eszter Patyi, Eszter Szolnoki, Nora Jakab, and Brigitta Kovacs, and Junior Associates Zsombor Franko and Lorant Teleki.
