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Kinstellar and Oppenheim Advise on S Immo Acquisition of Budapest Office Portfolio from Immofinanz

Kinstellar and Oppenheim Advise on S Immo Acquisition of Budapest Office Portfolio from Immofinanz

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Kinstellar has advised S Immo on the acquisition of six office properties in Budapest valued at EUR 244 million from Immofinanz. Oppenheim advised Immofinanz.

S Immo is a Vienna Stock Exchange-listed real estate investor and developer.

According to Kinstellar, “the acquisition includes the following six buildings comprising around 124,000 square meters of usable space: Thirteen Globe, Thirteen Xenter, Greenpoint 7, Atrium Park, Haller Gardens, and Szepvolgyi Business Park. The purchase price is based on the valuation of the property portfolio carried out by an external expert with a value of EUR 244.1 million as of December 22, 2022.”

Two months earlier, Kinstellar had advised S Immo on its EUR 238.3 million acquisition of Budapest office properties (and a land plot) from the CPI Property Group (as reported by CEE Legal Matters on November 21, 2022). Earlier, the firm had advised S Immo on the acquisition of the EXPO Business Park in Romania from Portland Trust (as reported on April 22, 2022). And, in 2020, Kinstellar advised S Immo on the acquisition of two class A office buildings in Bucharest from developer Skanska (as reported on December 16, 2020).

Meanwhile, Oppenheim had recently advised Immofinanz on the acquisition of a retail property portfolio, including 53 assets in Poland, the Czech Republic, Slovakia, and Hungary, from the CPI Property Group for EUR 324.2 million (as reported by CEE Legal Matters on September 26, 2022).

Kinstellar’s team included Of Counsel Dalma Ordogh, Managing Associate Barnabas Sagi, Associate Bertalan Vanya, and Junior Associates Anna Szilagyi and Kalman Varga.

Oppenheim's team included Partner Mark Pinter, Counsel Janos Fodor, and Associate Mark Ratkai.

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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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