Kinstellar has advised S Immo on the acquisition of six office properties in Budapest valued at EUR 244 million from Immofinanz. Oppenheim advised Immofinanz.
S Immo is a Vienna Stock Exchange-listed real estate investor and developer.
According to Kinstellar, “the acquisition includes the following six buildings comprising around 124,000 square meters of usable space: Thirteen Globe, Thirteen Xenter, Greenpoint 7, Atrium Park, Haller Gardens, and Szepvolgyi Business Park. The purchase price is based on the valuation of the property portfolio carried out by an external expert with a value of EUR 244.1 million as of December 22, 2022.”
Two months earlier, Kinstellar had advised S Immo on its EUR 238.3 million acquisition of Budapest office properties (and a land plot) from the CPI Property Group (as reported by CEE Legal Matters on November 21, 2022). Earlier, the firm had advised S Immo on the acquisition of the EXPO Business Park in Romania from Portland Trust (as reported on April 22, 2022). And, in 2020, Kinstellar advised S Immo on the acquisition of two class A office buildings in Bucharest from developer Skanska (as reported on December 16, 2020).
Meanwhile, Oppenheim had recently advised Immofinanz on the acquisition of a retail property portfolio, including 53 assets in Poland, the Czech Republic, Slovakia, and Hungary, from the CPI Property Group for EUR 324.2 million (as reported by CEE Legal Matters on September 26, 2022).
Kinstellar’s team included Of Counsel Dalma Ordogh, Managing Associate Barnabas Sagi, Associate Bertalan Vanya, and Junior Associates Anna Szilagyi and Kalman Varga.
Oppenheim's team included Partner Mark Pinter, Counsel Janos Fodor, and Associate Mark Ratkai.