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Dentons Advises Skanska on Mill Park Office Sale in Hungary

Dentons Advises Skanska on Mill Park Office Sale in Hungary

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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.

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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.

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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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