Tue, Oct
64 New Articles

CHSH Budapest Advises GalCap Europe on Acquisition of Merkur Palota in Center of Budapest

CHSH Budapest Advises GalCap Europe on Acquisition of Merkur Palota in Center of Budapest


CHSH Budapest has advised Vienna-based investment manager GalCap Europe on its acquisition of a renovated palais in the center of Budapest under its Eastern European mandate for an individual fund of a German pension scheme managed by Institutional Investment Partners. Lehoczky, Muszka es Szelei advised the unidentified private investor. The purchase price was not disclosed.

The Merkur Palota is located in the 6th district of the Hungarian capital, within walking distance of the opera house and the grand boulevard Andrassy ut. The building, which contains approximately 8,000 square meters of rentable space, was recently fully refurbished and now houses, among other companies, the European headquarters of Prezi.com, Hungary's most successful Internet start-up. The ground floor is occupied by a restaurant and there are a total of eight apartments in the two top floors, all with terraces and impressive views over the city. 

"The markets of Central and Eastern Europe, in particular Budapest, still offer good purchase opportunities and attractive risk return profiles," commenter Marco Kohla, Managing Partner of GalCap Europe. "We have several deals in the pipeline for our clients and will continue to increase activities in Eastern Europe."

The CHSH team was headed by Partner Wilhelm Stettner.

Image Source: gestimhungary.com

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