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.”
Savills Investment Management (Savills IM), the international real estate investment manager, transacted more than €3.6 billion globally in private real estate equity transactions in 2022 including c. €3.1 billion...