Dentons advises GTC in acquisition of Duna Tower in Budapest
Dentons has advised leading Warsaw-headquartered CEE commercial real estate company Globe Trade Centre S.A. (GTC) in its 100 percent acquisition of Duna Tower, an iconic office building in Budapest’s Váci Corridor. Duna Tower is a 16-floor twin-tower Class A office building on the Pest side of Árpád Bridge, with a total GLA of 31,500 sqm.
“We are very proud to have had the opportunity to support GTC in this high-value transaction,” commented Judit Kővári, head of Dentons’ Budapest Real Estate group. “This deal demonstrates the continuing potential for cross-border real estate transactions in the current CEE/SEE environment. It also pairs an active and dynamic acquirer with a value-accretive asset which can be further enhanced as part of the new ownership’s growth strategy."
Robert Snow, the CEO of GTC Hungary said: "The team at Dentons delivered a high quality and full service legal solution to assist us on this important addition to our portfolio, and we were delighted with our partnership with them."