DLA Piper has advised the RV Ingatlan Befektetesi Alap fund on its acquisition of the Roseville office building in Budapest from Atenor.
Atenor is a real estate developer listed on the Euronext Brussels market.
According to DLA Piper, Roseville is a “newly completed Grade A+ office building with BREEAM ‘Excellent’ rating located in North Buda. Roseville is Atenor’s flagship development [and] one of the most prestigious office buildings in Budapest, with its premium location and sustainable design. The building, which opened in the summer of 2023, is occupied by international companies such as Veeva Systems, L’Oreal, and Red Bull.” The building offers approximately 15,500 square meters of space.
"The significance of the deal is enhanced by the fact that this year has been a subdued year for the Hungarian real estate market, including the office market, due to the uncertain financing environment, with fewer and lower value transactions than last year," the firm reported.
The DLA Piper team included Partner Gabor Borbely, Attorney at Law Tamas Balogh, Senior Associates Bettina Boncok and Angela Toth, and Junior Associate Borbala Bernath.
DLA Piper could not disclose additional information on the deal.
Editor's Note: After this article was published, CMS announced it had advised Atenor on the sale. The firm's team included Partner Gabor Czike and Senior Associate Laszlo Jokay.