23
Thu, Jan
74 New Articles

Dentons Advises GTC on Real Estate Portfolio Acquisition from Peach Property Group

Hungary
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Dentons has advised Globe Trade Centre on the acquisition of a real estate portfolio from the real estate investor Peach Property Group. GTC acquired the portfolio in a consortium along with Luxembourg Finance House. Greenberg Traurig's Germany office reportedly advised Peach Property Group.

Founded in 1994 and headquartered in Warsaw, GTC Group is a real estate investor and developer focusing on Poland, Hungary, and the capital cities of Central, Eastern, and Southern Europe.

According to Dentons, "the portfolio focuses on three cities in Germany: Kaiserslautern, Helmstedt and Heidenheim. In total, it comprises around 5,200 residential units, 47 commercial units, 71 other units, and 2,108 parking spaces, with a total rental area of 324,167 square meters."

In 2021, Dentons advised on Globe Trade Centre's bonds issuance (as reported by CEE Legal Matters on July 2, 2021).

The Dentons team included Budapest-based Partners Istvan Reczicza, Gergely Stanka, and Judit Kovari and Senior Associate Rita Varnagy as well as further lawyers in Berlin, Frankfurt, and Luxembourg.

Editor’s Note: After this article was published, Rymarz Zdort Maruta announced that it advised GTC as well, particularly on the company’s issue of series A participation notes in bearer form, with a total nominal value of approximately EUR 41.8 million, as well as the Polish aspects of financing the transaction. The firm’s team included Partner Jakub Zagrajek and Associate Patrycja Gliwka.

Hungary Knowledge Partner

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, helping clients with their legal needs around the world. We strive to be the leading global full-service law firm by delivering quality and value to our clients. With practical and innovative legal solutions, we help our clients succeed.

In Central and Eastern Europe (CEE), DLA Piper continues to grow and now employs more than 320 lawyers, including 46 partners across its six offices in Austria, the Czech Republic, Hungary, Poland, Romania and Slovakia. With our global set-up and established relationship firms across all other CEE jurisdictions, we are among the largest and most experienced international law firms in the region. Through our experience gained advising on a variety of high-profile projects and the long-term relationships we have established with our clients, we have built a reputation as a leading business law firm across CEE.

Firm's website.

Our Latest Issue