Dentons has advised Skanska on its sale of Mill Park, a two-building office project in Budapest, to the real estate fund of Erste Alapkezelo Zrt., a subsidiary of Erste Asset Management GmbH. The buyer reportedly was represented by NGYL Partners.
Mill Park offers over 36,000 square meters of general leasing area. According to Skanska, “the property is already 80% leased to multiple tenants, including IT Services Hungary, and it will be completed in the third quarter of 2018. It is expected to receive LEED Gold certification.”
Mill Park will offer a 5,500 square meter multifunctional garden with a spacious green area, an outside gym, table tennis and table football, and outdoor workspaces with plug-ins and WiFi, as well as communal areas and restaurants.
The Dentons team consisted of Partner Judit Kovari, Associates Boglarka Zsofia Joo and Anna Gerendas, and Trainee Associate Zsofia Lascsik.
NGYL Partners did not reply to our inquiries on the matter.