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Lakatos, Koves and Partners Advises Prologis on Acquisition of Logistics Facility in Budapest

warehousesinfo.hu

Hungary
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Lakatos, Koves and Partners has advised Prologis on the acquisition of Prologis Park Budapest-Ullo, the 37,500 square meter Auchan-occupied building in Budapest.

The “high-quality logistics facility," which  is located in the vicinity of the Budapest Airport and the Budapest ring road M0, 30 kilometers from the Budapest city center, is — according to a firm press release — "100 per cent leased."

LKP Partner Attila Ungar, head of the firm’s Real Estate Practice, believes the deal as an encouraging sign. "Hungary is over the crisis in the Real Estate market, Ungar said. "Expectations are rising and transactions are happening. Deals like this mark a change from the crisis management that we have seen in recent years."

An LKP press release states that, “the deal was made by Prologis European Properties Fund II, established in August 2007, which is one of four European co-investment vehicles managed by Prologis. As of March 31, 2014, the Fund owned 253 properties, for a total of 5.9 million square meters with a net market value of EUR 3.595 million. Prologis owns and manages approximately 3.7 million square meters of logistics and distribution space in Central & Eastern Europe."

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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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