CHSH has advised CA Immo and Union Investment on the sale of the Aerozone logistics center in the suburbs of Budapest to the M7-managed fund, M7 CEREF I.
CA Immo is a Vienna-based real estate company and Union Investment Real Estate is a German real estate investment manager, in the process completing the strategic process of CA Immo’s withdrawal from the logistics segment.
‘We sold our entire logistics portfolio in order to keep growing our core business, the office segment, profitably. At the same time, we are reducing minority holdings to raise the efficiency of our portfolio management’ added Frank Nickel, CA Immo’s CEO.
"We are happy to have again successfully contributed to CA Immo's divestment strategy streamlining its portfolio," said Mark Krenn, Head of CEE Real Estate Practice of CHSH who led the firm's team on the matter. "Again we underlined our expertise in the CEE region."
The Hungarian CHSH team was led by Budapest-based Partner Wilhelm Stettner.
As previously reported, Kinstellar advised M7 on the deal.