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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

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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

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Nagy és Trócsányi was founded in 1991, turned into limited professional partnership (in Hungarian: ügyvédi iroda) in 1992, with the aim of offering sophisticated legal services. The firm continues to seek excellence in a comprehensive and modern practice, which spans international commercial and business law. 

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.

The firm advises a broad range of clients, including numerous multinational corporations. 

Our activity focuses on the following practice areas: M&A, company law, litigation and dispute resolution, real estate law, banking and finance, project financing, insolvency and restructuring, venture capital investment, taxation, competition, utilities, energy, media and telecommunication.

Nagy és Trócsányi is the exclusive member firm in Hungary for Lex Mundi – the world’s leading network of independent law firms with in-depth experience in 100+countries worldwide.

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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