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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.

Hungary Knowledge Partner

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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