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CHSH and Jalsovszky Advise on Sale of Duna Center Shopping Center in Gyor

CHSH and Jalsovszky Advise on Sale of Duna Center Shopping Center in Gyor

Hungary
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CHSH has advised Vienna-based real estate investor CA Immo on the sale of the special purpose vehicle that owns the Duna Center shopping mall in Gyor, Hungary, to Indotek. The Jalsovszky Law Firm advised the buyers on the deal.

The mall has a gross lettable area of approximately 16,000 square meters, and the acquisition closed at the end of 2018. As a result of the transaction, Indotek further extended its retail portfolio of countryside shopping centers in Hungary. At the same time, CHSH reports, "CA Immo sold its last commercial real estate in Hungary, leaving the retails market behind in order to further concentrate on the office segment."

"We managed to sell this commercial real estate in a favorable market environment in the wake of local portfolio streamlining," said Ede Gulyas, Managing Director of CA Immo Hungary. "In the future we aim to focus on A-category office investments which are still very promising in the CEE region.”

The CHSH team was led by Partner Wilhelm Stettner, who heads the firm's Budapest real estate team, and it included Associate Ivett Szauftman.

The Jalsovszky team was led by Senior Attorney Peter Gyimesi, working with Levente Bihari and Gabor Kerekes.

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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.

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

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