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Kinstellar and Noerr Advise on Prologis Acquisition of Budapest Business Park

Kinstellar and Noerr Advise on Prologis Acquisition of Budapest Business Park

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Kinstellar has advised Prologis (on behalf of Prologis European Properties Fund II) on its acquisition of the M0 Central Business Park, located at Szigetszentmiklos on the M0 ring road around Budapest, from the Logidune Kft. logistics real estate developer. Noerr advised Logidune on the deal.

The logistics park boasts 31,000 square meters of leasable area, all leased by what Kinstellar describes as "strong international tenants."

Kinstellar describes Prologis as "a global leader in industrial logistics real estate across the Americas, Europe, and Asia," and reports that "Prologis' portfolio in Hungary totals more than 640,000 square meters of warehouse space and includes eight parks (39 buildings) located in the greater Budapest area (Gyal, Harbor Park, Szazhalombatta, Szigetszentmiklos, Ullo, Paty, Budaors) and Hegyeshalom." According to Kinstellar, "with such a large portfolio, Prologis is the leading distribution space provider in Hungary, having one of the highest market share of existing industrial space."

Logidune is part of the IDI Gazeley Group, which is overseen by Brookfield Property Partners, a global real estate owner, operator, and investor with USD 145 billion assets under management.

The Kinstellar team advising Prologis was led by Partner Anthony O’Connor, and included Managing Associate Akos Mates-Lanyi and Junior Associate Laszlo Palocz. 

The Noerr team advising Logidune was led by Budapest-based Partner Zoltan Nadasdy, supported by Berlin-based Partner Astrid Frense and Budapest-based Senior Associate Szilvia Andriska.

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