CMS has advised NEPI Rockcastle plc on its acquisition of the Arena Plaza shopping center in Budapest by means of a EUR 275 million purchase of all the issued shares in and claims against Symmetry Arena Ingatlankezelo Korlatolt Felelossegu Tarsasag, the owner of the mall, from Lanebridge Investment Management Limited. DLA Piper advised the sellers on the deal.
With a gross lettable area of 66,000 square meters, Arena Plaza is the second largest retail center in Budapest.
CMS Budapest’s Real Estate team included Partners Gabor Czike and Jozsef Varady and Senior Associate Andras Klupacs, Associate Zsofia Zsurzsa, Trainee Aniko Szucs, and Lawyer Laszlo Jokay. The CMS Budapest Banking team representing the banks (as sellers of the senior loan receivable) in the framework of a Chinese Wall arrangement included Partner Erika Papp and Senior Associate Dorottya Varga-Giesz. Corporate law matters were covered by Partner Eva Talmacsi and Senior Associate Zoltan Poronyi.
The DLA Piper team advising the sellers included UK-based Partner Yunus Maka, and Hungarian Partner Gabor Borbely, Counsel Szilrad Kui, and Associate Barbara Csaszar.