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Szecsenyi & Partners Advises CBRE Global Investors on Sale of Liget Center in Budapest to M7 Real Estate

Szecsenyi & Partners Advises CBRE Global Investors on Sale of Liget Center in Budapest to M7 Real Estate

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The Szecsenyi law firm has advised a fund managed by CBRE Global Investors on its sale of the Liget Center in Budapest to M7 Real Estate, acting on behalf of its first Central European fund for third party investors, M7 Central European Real Estate Fund I (M7 CEREF I). Kinstellar advised M7 on the deal.

M7's acquisition -- along with its acquisition of a 24,598 square meter multi-tenanted industrial property in Godollo, Budapest, from Omega Real Estate Fund -- follows the completion of the final close of the M7 CEREF I Fund, which reached its target raise of EUR 60 million of investor capital in April 2017, as well as the agreement of a EUR 68.5 million senior debt facility with Starwood European Real Estate Finance.  

The Liget Center offers 10,863 square meters of multi-let office space in the center of Budapest, overlooking Varosliget Park -- one of the city’s biggest parks.

David Ebbrell, chief investment officer at M7, said: “As we continue to expand into CEE, these acquisitions are a further demonstration of the value that we see in the region, having now closed on a total of EUR 84 million of assets on behalf of M7 CEREF I. We have identified a further pipeline of acquisitions, and anticipate closing a further significant transaction in the near term.”

The Szecsenyi team was led by Daniel Kellner.

Image Source: ligetcenter.hu

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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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