13
Wed, Nov
60 New Articles

CMS Advises Futureal on Sale of Corvin Office Portfolio to OTP Group

CMS Advises Futureal on Sale of Corvin Office Portfolio to OTP Group

Hungary
Typography

CMS Budapest has advised the Futureal Group on the sale of its six existing office buildings and two office buildings currently under construction, together referred to as the Corvin Office Portfolio, to OTP Real Estate Investment Fund Management. DLA Piper reportedly represented the OTP Group on the acquisition.

According to a CMS press release, the transaction is considered to be one of the largest real estate transactions of the year in Hungary.

The buildings have a total of 80 thousand square meters and include four Corvin Towers: Corvin One, Corvin Corner, Corvin Technology Park, and Corvin 7.

Futureal Group Founder Gabor Futo described the transaction as "a significant milestone in the development of the Futureal Group and in the 15-year-old history of Corvin Promenade," and said: "The promenade, a symbol of Budapest’s development, continues to act as a bridge between the successful past and the promising future of our group. We are certain that the Corvin Offices are in competent hands and the agreement now concluded will further strengthen our excellent professional relationship with the OTP Group.”

The CMS team was led by Partner Gabor Czike and included Associate Laszlo Jokay.

Hungary Knowledge Partner

Established in 1957, Wolf Theiss is one of the leading European law firms in Central, Eastern and South-Eastern Europe with a focus on international business law. With 300 lawyers in 13 offices located in Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, Wolf Theiss represents local and international industrial, trade and service companies, as well as banks and insurance companies. Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on the basis of legal, fiscal and business know-how.

All News about, and Legal Analysis by, Wolf Theiss can be found here.

Firm's website: http://www.wolftheiss.com/

Our Latest Issue