Dentons advises NEPI Rockcastle on €254 million acquisition of majority stake in Mammut shopping center in Budapest
Dentons advised real estate investor and developer NEPI Rockcastle on the acquisition of 100 percent of Mammut 2 and 81 percent of Mammut 1, which jointly form the Mammut shopping center in Budapest, from leading global private equity firm Lone Star, for €254 million. With this transaction, NEPI Rockcastle becomes the owner of two shopping malls in Budapest, following last year’s purchase of Aréna Plaza. The investment is part of NEPI’s strategic plans to enhance its shopping mall portfolio in Central and Eastern Europe (CEE).
Mammut is the largest shopping and entertainment center on the Buda side of the city, located at Széll Kálmán Square, the busiest interchange hub in Buda. It offers 61,300 sqm of total gross leasable area in two buildings connected via a double-level pedestrian bridge.
"We were very pleased to support our client on this significant transaction,” commented Judit Kővári, head of Dentons’ Real Estate group in Budapest. “This deal is a major real estate transaction for the Hungarian market and is a great example of Dentons’ ability to advise international players on their real estate projects in Hungary.”
The Dentons team on the deal was led by partners Judit Kővári, Marcell Szőnyi and Edward Keller, assisted by partners Anita Horváth and Gergely Horváth as well as counsel Gábor Király, associates Rita Várnagy, Anna Gerendás, Boglárka Zsófia Joó, János Csáki, Réka Szalóky and András Peisch, and trainee associates Zsófi