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Schoenherr, CMS, and Noerr Advise on Ullo Logistic Center Agreements Between OTP REIF, Rossmann, and Panattoni

Schoenherr, CMS, and Noerr Advise on Ullo Logistic Center Agreements Between OTP REIF, Rossmann, and Panattoni

Hungary
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Schoenherr has advised the OTP Real Estate Investment Fund on its purchase of a land plot in Ullo, Hungary, from Rossmann, the development agreement for a BTS logistic center on the site with development manager Panattoni, and a long-term lease agreement for the facility with Rossmann as tenant. CMS and Noerr advised Panattoni. PwC Legal reportedly advised Rossmann.

According to Schoenherr, "this deal marks one of the largest BTS agreements in the domestic logistics market in 2023. The newly developed, tailor-made 32,000-square-meter logistics center will serve Rossmann's retail network with state-of-the-art, semi-automated warehousing and stock management solutions." 

The OTP Real Estate Fund is an open-end fund that invests primarily in Hungarian real estate.

Headquartered in Germany, Rossmann is a drugstore chain operating in Europe and employs around 56,000 people.

Panattoni is a real estate developer specializing in industrial real estate and warehouses.

The Schoenherr team included Partners Laszlo Krupl and Gergely Szaloki and Associate Viktoria Magyar.

The CMS team included Partner Gabor Czike and Senior Associate Laszlo Jokay.

The Noerr team included Partner Zoltan Nadasdy and Senior Associate Eszter Hegedus.

Schoenherr at a Glance

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 15 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

Firm's website: www.schoenherr.eu