CHSH has advised Vienna-based real estate investor CA Immo on the sale of the special purpose vehicle that owns the Duna Center shopping mall in Gyor, Hungary, to Indotek. The Jalsovszky Law Firm advised the buyers on the deal.
The mall has a gross lettable area of approximately 16,000 square meters, and the acquisition closed at the end of 2018. As a result of the transaction, Indotek further extended its retail portfolio of countryside shopping centers in Hungary. At the same time, CHSH reports, "CA Immo sold its last commercial real estate in Hungary, leaving the retails market behind in order to further concentrate on the office segment."
"We managed to sell this commercial real estate in a favorable market environment in the wake of local portfolio streamlining," said Ede Gulyas, Managing Director of CA Immo Hungary. "In the future we aim to focus on A-category office investments which are still very promising in the CEE region.”
The CHSH team was led by Partner Wilhelm Stettner, who heads the firm's Budapest real estate team, and it included Associate Ivett Szauftman.
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The Jalsovszky team was led by Senior Attorney Peter Gyimesi, working with Levente Bihari and Gabor Kerekes.