DLA Piper has advised the OTP Property Fund Management on its acquisition of the BSR Center office building on Vaci ut in Budapest from a real estate fund managed by GLL Real Estate Partners. The seller was advised by Lakatos, Koves and Partners.
The BSR Center has over 22,000 square meters of office space available, 2,000 square feet of retail space, and a 334-space underground garage. With its acquisition, which closed on November 9, the total amount of assets held by OTP Property Fund Management has grown to HUF 200 billion.
The DLA team working on this deal consisted of Counsel Szilard Kui, working alongside Senior Associate Attila Remes and Associate Bettina Boncok. Kui also led the DLA team that advised the OTP Property Investment Fund on its acquisition of the West End Business Center office building in Budapest this past summer (reported on by CEE Legal Matters on August 9, 2017).
The Lakatos, Koves and Partners team advising GLL Real Estate Partners consisted of Partner Attila Ungar and Senior Associate Agnes Hegyi.