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DLA and LKT Advise on OTP Acquisition of BSR Center in Budapest

DLA and LKT Advise on OTP Acquisition of BSR Center in Budapest

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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.

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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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