DLA Piper has advised OTP Property Investment Fund on its acquisition of the West End Business Center office building in Budapest from an international investment consortium consisting of Wing, Morgan Stanley Real Estate Investing, and CC Real. The sellers were assisted by Baker McKenzie.
The refurbishment of the office building was initiated recently, and under the agreement it will continue even after the closure of the transaction and be completed by the end of 2018. The office complex offers available office space of over 26,000 square meters, over 1,000 square meters of store area, and a two-story parking area.
Szilard Kui, Counsel and Head of Real Estate of DLA Piper in Budapest, advised OTP.
The Baker McKenzie team was led by Partner Benedek Kovacs.