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DLA Piper Advises on Roseville Office Building Sale

DLA Piper Advises on Roseville Office Building Sale

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DLA Piper has advised the RV Ingatlan Befektetesi Alap fund on its acquisition of the Roseville office building in Budapest from Atenor.

Atenor is a real estate developer listed on the Euronext Brussels market.

According to DLA Piper, Roseville is a “newly completed Grade A+ office building with BREEAM ‘Excellent’ rating located in North Buda. Roseville is Atenor’s flagship development [and] one of the most prestigious office buildings in Budapest, with its premium location and sustainable design. The building, which opened in the summer of 2023, is occupied by international companies such as Veeva Systems, L’Oreal, and Red Bull.” The building offers approximately 15,500 square meters of space.

"The significance of the deal is enhanced by the fact that this year has been a subdued year for the Hungarian real estate market, including the office market, due to the uncertain financing environment, with fewer and lower value transactions than last year," the firm reported.

The DLA Piper team included Partner Gabor Borbely, Attorney at Law Tamas Balogh, Senior Associates Bettina Boncok and Angela Toth, and Junior Associate Borbala Bernath.

DLA Piper could not disclose additional information on the deal.

Editor's Note: After this article was published, CMS announced it had advised Atenor on the sale. The firm's team included Partner Gabor Czike and Senior Associate Laszlo Jokay.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

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