Real estate and construction in Hungary

CMS

Gábor Czike leads CMS' real estate and construction team in Budapest, whose expertise spans all asset classes, with strengths including commercial properties, industrial/logistics parks and renewable energy developments. Czike regularly advises Hungarian and regional property firms on the acquisition and development of commercial, residential and leisure real estate. He is also knowledgeable about construction matters and restructurings. József Várady advises German-speaking clients on sale and leaseback transactions. Associate András Klupács is experienced in mandates connected with the renewable energy industry, as well as hotel and leisure developments.

Practice head(s):

Gábor Czike

Other key lawyers:

József Várady; András Klupács

Testimonials

We have a longstanding partnership with CMS’ real estate team and therefore, there is a wide range of matters in which we have cooperated. They are really excellent in property portfolio sales and acquisitions and they can provide industry-specific advice such as leasing agenda, construction and development projects and construction litigation.’

Gábor Czike is an outstanding and great lawyer, who is well known and respected. He has significant experience of handling real estate transactions, such as acquisitions, joint ventures, new investments and constructions. He is a real professional, one of the most experienced in the industry. József Várady is also a highly regarded practitioner who is very practical and efficient. He always finds the best solutions for us.’

Deep knowledge, business mind, efficiency, strong experience

Experienced team, flexible billing, valuable collaboration with our in-house team

Key clients

Allianz Real Estate

GTC

Forestay Group

GLP

Atenor Group

Futureal Group, major Hungarian developer

Pepkor Ingatlan Kft.

Fatal Group

Work highlights

  • Advised Allianz Real Estate on the acquisition of the Eiffel Square office building, a 23,500 sqm Eiffel Square Office Building in Budapest.
  • Advised the Forestay Group on lease and financing structure of the student housing project which became a Hungarian real estate fund, requiring extensive licensing and compliance procedures.
  • Advised Goodman, an Australian integrated commercial and industrial property group on the construction and “built-to-suit” letting of a 87,200 sqm greenfield logistics facility. The building is let to the French retailer Auchan.

Dentons

Dentons is well known for its strengths in handling asset and share transactions, complex financings and a wide range of development and leasing arrangements, particularly those relating to commercial buildings, shopping centers, hotels and logistics centres. The firm also advises on zoning and planning regulations, environmental issues and tax-efficient structuring of investment vehicles. Department head Judit Kővári acts for real estate investors, private equity firms and developers. Also notable is that she is head of the Commercial Property Session of the Budapest Bar Association’s Real Estate Group. Marcell Szőnyi and associate Rita Várnagy are also recommended.

Practice head(s):

Judit Kővári

Other key lawyers:

Marcell Szőnyi; Rita Várnagy

Key clients

Optima Investments Limited

Orbis SA

SkyGreen Buildings Kft.

Globe Trade Centre S.A. (GTC)

Heitman International

Starwood Capital Group

AEW Europe S.A.

White Star

Skanska

Work highlights

  • Advised a Hungarian private equity fund owned and managed by Optima Investments Limited, an affiliate of the National Bank of Hungary, on the acquisition from Lone Star Funds of a Dutch holding company that owns a 61% stake in Globe Trade Centre S.A.
  • Advised Starwood Capital Group, a US private equity firm on its sale of Sofitel Budapest Chain Bridge Hotel in Budapest city centre.
  • Advised SkyGreen Buildings Kft., a member of a leading Hungarian investor group on its sale of Eiffel Square, a prime office complex in central Budapest.

Hegymegi-Barakonyi and Partner Baker & McKenzie Attorneys-at-Law

Hegymegi-Barakonyi and Partner Baker & McKenzie Attorneys-at-Law  generates a strong flow of work from foreign investors investing in the Hungarian market, such as Samsung, BMW and Nestlé.  Key areas of activity include acquisitions, disposals and the leasing of properties, particularly those involving offices, production plants and industrial sites. In addition, the team is knowledgeable about zoning issues and greenfield investments. Practice head Benedek Kovács works with senior associate Éva Dobos.

Practice head(s):

Benedek Kovács

Other key lawyers:

Éva Dobos

Testimonials

Very professional. Has a good network with all other stakeholders, who are relevant in the given projects. Very clear communication (towards non-lawyers as well) and clear guidances that we can receive from them. Delivers the service on time, even under high pressure, and even under a strict timeline.’

Benedek Kovács is the partner we work with. He has outstanding knowledge. Delivers what he promises on time and with a quality that is very high. He is not only advising us and preparing the required legal documents, but plays also an important role regarding managing projects. (managing internal and external stakeholders)

Excellent team with good communication and negotiation experience. Precise and reliable service.’

Benedek Kovács is very experienced with real estate transactions. He has outstanding negotiation and communication skills. He is a very trustworthy and precise professional.’

Key clients

Municipality of Debrecen

AtenorS.A

Emerson

Nestlé

Warburg-HIH

JT Ross Group

BP

Skanska

DEREIF SIVAC-FIS S.A

CBRE Global Investors

Work highlights

  • Advising Nestlé in connection with the expansion of their operations in Hungary, including acquisitions of up to 20 hectares greenfield land. The project represents a significant investment in Hungary and will lead to the creation of 200 new workplaces, making the Hungarian facility the largest and most significant pet food production centres of Nestlé in Europe.
  • Advised the Municipality of Debrecen and the Hungarian State on a greenfield development related to BMW establishing and operate a plant in Debrecen.
  • Advised BP on its new build-to-lease arrangement for its HQ at Agora Tower Budapest, involving 22,000-sqm leasable area.

Lakatos, Köves and Partners

Lakatos, Köves and Partners' real estate practice is highly active in the Hungarian market, where it acts for clients on prominent asset acquisitions and disposals, particularly in the commercial and logistics sector. It also advises on leases and real estate finance transactions. The multilingual and 'very proactive' team is led by Attila Ungár, who is known for his work on residential development projects, real estate M&A and restructurings. Senior associates Tamás Oláh, Tamás Balogh and Júlia Várkonyi are active in real estate transactions in the retail, office and logistics sectors.

Practice head(s):

Attila Ungár

Other key lawyers:

Tamás Oláh; Tamás Balogh; Júlia Várkonyi

Testimonials

‘Real estate regulation in Hungary is very complex, in our case it was at least. They diligently reviewed all aspects, including taxing and advised the make the deal in an optimal way. They are precise following al the issues and we could work together as a team. They were responsive almost always, and very proactive – especially in the beginning.’

‘The team was specific in real estate issues, and they did it very well. The employee who took the lead was enthusiastic and well prepared for the task, suggested good ideas.’

Key clients

Al Habtoor

Soulbrain

Toyo Ink

GLL Real Estate Partners GmbH

Indotek Group

Care Park

KGAL/Convergence

CEETRUS Hungary Kft

Thermo Fisher Scientific Inc.

Goodman Hungary (currently GLP Partners)

DVM / Horizon Development

Stonehill Holdings / IC Campus

American International School of Business

Aeroflot PJSC

Duna Medical Center Kft

Marriott Hotel Holding GmbH

KMW, Krauss-Maffei Wegmann GmbH & Co. KG

Wienerberger

Arcese

Fatsron Immobilien & HGM // Mattoni Group // Accenture

COVID 19 related real estate assignments – Allianz, Geox, Al Habtoor, GLL, KGAL/Convergence

Work highlights

  • Advised the seller, Al Habtoor, a MENA conglomerate, on the sale of Rumbach Center to GalCap Europe, a real estate asset and investment manager specializing in Austria and Central Europe.
  • Advising Indotek, a leading owner and manager of shopping centres in the CEE region, on the acquisition of various properties in Budapest including structuring, tax advice and financing. The firm recently advised Indotek Group on its acquisition and financing of several shopping malls across Hungary in connection with Klépierre’s exit from the Hungarian market.
  • Advising GLL Real Estate Partners GmbH (GLL) on all of its real estate projects in Hungary. Recent work included the sale of Roosevelt Office Center, located on Széchenyi square / Chain Bridge, to OTP Real Estate Fund.

Andrékó Kinstellar

Andrékó Kinstellar has a strong track record handling the acquisition and disposal of retail, office, industrial, hotel and housing projects. It also excels in real estate fund structuring and real estate finance transactions. The firm has a notable profile among developers, investment firms and multinational companies establishing branches in Hungary. Anthony O’Connor acts for foreign investors (particularly private equity and sovereign wealth funds) on acquisitions and disposals of Hungarian and regional real estate assets, while managing associate and practice head Mónika Frank advises banks and developers. Senior associate Marcell Horváth is 'very efficient in delivering his legal tasks'.

Practice head(s):

Anthony O’Connor; Mónika Frank

Other key lawyers:

Marcell Horváth

Testimonials

‘I like the team’s preparedness and very swift response time. Also, the junior lawyers are very knowledgeable, which helps us a lot. ’

‘Marcel Horvath – hard-working associate with a solid drive to make the deal happen. Very efficient in delivering his legal tasks.’

‘very professional, responsive and provides practical support’

Mónika Frank is exceptional, always ready to answer, creative ideas, responsive, good negotiation technique

Key clients

GLP

Goodman Group

Klépierre

Skanska

SK Innovation

TEVA

Work highlights

  • Advising GLP on its acquisition of Goodman Group’s Central and Eastern Europe logistics portfolio. Subject to regulatory approvals, work included the complex due diligence and preparation as well as negotiation of the transaction documents.  
  • Advising Klépierre on the sale of its Hungarian portfolio, comprising of four shopping and entertainment complexes comprising Duna Plaza (a 47,159 sqm), Corvin Plaza (34,600 sqm), Győr Plaza (20,000 sqm, the third shopping and entertainment centre in Hungary, the first in the countryside). and Miskolc Plaza (35,300 sqm), as well as a company providing energy services and a company providing management services.
  • Advising SK Innovation in connection with the establishment of a greenfield EUR 850m 430,000 sqm electric vehicle battery factory in Komárom.

DLA Piper

DLA Piper's 'highly respected real estate team' is a go-to firm for real estate funds and developers. It is experienced in the acquisition and divestment of prime commercial real estate, as was evidenced by it acting for OTP Real Estate Investment Fund Management on the acquisition of the Corvin Offices portfolio of six office buildings from Hungarian developer Future. Szilárd Kui is 'highly regarded for his practical experience in both real estate transactions and developments'. He is recommended for acquisition and leaseback transactions and zoning and planning work. Senior associates Attila Remes and Bettina Boncok are also recommended.

Practice head(s):

Szilárd Kui

Other key lawyers:

Attila Remes; Bettina Boncok

Testimonials

‘DLA has a highly respected real estate team that includes a top-tier divestments, acquisitions and leasing offering. They have extensive experience in assisting institutional real estate investors, including domestic and European funds, with high-stakes transactions.’

‘Szilard Kui is easy going and has a direct and friendly style. He is highly regarded for his practical experience in both real estate transactions and developments. He is widely recognized in the real estate market and has been involved in major transactions involving office and commercial properties.’

‘Bettina Boncok is detail-oriented and meticulous. She analyses all aspects of an issue and excels at managing transactions relentlessly, tracking down all threads and deliverables.’

‘Precision and attention to details on top of flexibility.’

‘Szilard Kuy is a certain rising star in the local market. The guy is spot on’

Key clients

HB Reavis

OTP Real Estate Investment Fund Management

Revetas Capital

TriGranit

UniCredit

Marriott

FLE GmbH

Wing

Equilor Real Estate Fund Managers

Optima

RIMO

Bodycote

Nemzeti Ménesbirtok Zrt.

Work highlights

  • Advising HB Reavis on negotiating a built to suit lease agreement with BP for their new 22,000 sqm shared service center in Agora Hub.
  • Advising FLE on the purchase and lease-back of 11 Cash & Carry stores from METRO in Poland, Hungary and Czech Republic. The portfolio has been acquired by FLE GmbH, Vienna, subsidiary of French LFPI Group, investing on behalf of an AIF regulated fund.
  • Advising Optima on the sale of the 60.4% shareholding in its Budapest development project, located on the Váci Road office corridor, to internationally-based Chi Fu Investment Group.

Kapolyi Law Firm

Kapolyi Law Firm's 'skilled and enthusiastic' team provides 'clear, duly substantiated and appropriate' advice on the full scope of real estate matters, including those concerning offices, residential developments, hotels, logistics and other industrial properties. The firm is highlighted for its real estate development offering, including sizeable town planning and regeneration schemes, REITs and investment funds work, and design and construction agreements. Sándor Habóczky is experienced in the real estate aspects of M&A and investment transactions, as well as advising on FIDIC-based contractual arrangements, claim management and warranty disputes. József Kapolyi is another key figure.

Practice head(s):

Sándor Habóczky; József Kapolyi

Testimonials

‘Our company receives excellent services from the team, both at local and international level. Their advice and proposals are clear, duly substantiated and appropriate. Also, the developments of the transactions are successful and easy with them. The team is well structured, disposes on sufficient highly prepared personnel, therefore they are highly effective and able to provide appropriate legal support/assistance in due time and handle complex issues, transactions.’

Response time and flexibility beats others

‘The real estate practice at Kapolyi Law Firm shall be highlighted for the extraordinary assistance and the quick legal development of the transactions the team provides. They could always be contacted on a day-to-day basis and effectively helps us further. Thanks to their long experience gained in this area of law their assistance encompasses even strategic and tactical not only legal issues.’

‘All members are highly experienced professionals, but in the meantime humble with the profession and their clients. ’

‘The team is powerful and enthusiastic in work. The professionals are highly skilled, have a good knowledge of legal environment and cooperative attitude to find the best solutions for the client’

‘The team members are individually talented and skilled, has strong knowledge in legal advising. Every member has a professional attitude and is always ready to work together. They always reply on time, with reliable and detailed answers.’

József Kapolyi, managing partner of the firm as well as Sándor Habóczky, head of the real estate department, stand out for their broad experience and excellent negotiation skills. They are very sharp, effective, pragmatic, understand the kernel of the problems immediately.’

Key clients

GTC Hungary Real Estate Development Ltd.

Kompakt Land Llc.

M7 CEREF Hungarian Propco Llc.

MHC Hotel Company Llc.

Green Real Estate Investment Fund

CW1 Real Estate Investment Fund

AKKO Invest Plc.

SENTIO Llc.

EQUILOR Investment Fund Management Ltd.

BALAKER’99 Ltd.

Center Point II Llc.

KOZOLT Hungary Llc.

Bradley, Edwards & Associates Llc.

Eiffel Square Llc.

Work highlights

  • Assisting GTC with office development projects at the Váci Corridor of Budapest. Work includes negotiating and preparing high value design and construction arrangements with KÉSZ and other contractors on behalf of GTC’s respective project vehicle for the Pillar Office Building project.
  • Advising EQUILOR Investment Fund Management Ltd. and its funds in their higher deal value property acquisition transactions, primarily in the office segment. Recently worked on the acquisition of the Millenáris buildings and the ITSH building in Debrecen.
  • Advising Spanish hotel developers’ project firm, MHC, on property acquisition, through to construction and operation of the new five star hotel “KOZMO” .

Noerr

Noerr's team in Budapest is a core part of the wider CEE real estate investment group. Led by Zoltán Nádasdy, it specialises in cross-border property transactions, leasing, developments, property management and construction contracts. The firm has an active advisory practice in connection with greenfield investments and in relation to the establishment and development of new business operations in Hungary. Nádasdy is the main contact for real estate transactions and infrastructure projects. Banking partner Edina Schweizer and counsel Ákos Mátés-Lányi are also recommended.

Practice head(s):

Zoltán Nádasdy; Edina Schweizer

Other key lawyers:

Ákos Mátés-Lány

Key clients

SIGNA Group

thyssenkrupp

GTC Hungary (GTC SA’s local subsidiary)

Indotek

ElringKlinger AG

Valeo Siemens e-Automotive Hungary Kft.

Work highlights

  • Advising Indotek (a leading regional real estate investment group) in relation to the acquisition of the Baross and Orczy office buildings in Budapest, Hungary.
  • Advising the Germany-based ElringKlinger AG on the sale of the Heliport Industrial Park in Kecskemet, Hungary, to Infogroup.
  • Advising Prologis, the global leader in logistics real estate, on the acquisition of site for its new logistics park – Prologis Park Budapest -Sziget II.

Oppenheim Ugyvedi Iroda

Oppenheim Ugyvedi Iroda's team comprises of 'experienced colleagues with broad market knowledge' and 'an understanding of the construction market'. The department is led by Márk Pintér, who is a member of the Royal Institution of Chartered Surveyors. His practice spans residential development projects, as well as sales and purchases of commercial buildings, retail centres and hotels. Elsewhere, the firm also advises on financing, leasing and restructuring of all major asset classes of real estate. Associate Janos Fodor is recommended for office and retail leases.

Practice head(s):

Márk Pintér

Other key lawyers:

Janos Fodor

Testimonials

‘The assigned lawyers from Oppenheim are always looking for practical solutions, trying not to complicate further the situations.’

‘Experienced colleagues with broad market knowledge, understanding also the construction market as well as the needs of their clients. We are very satisfied with the performance of Dr. Pinter.’

Key clients

Skanska

IMMOFINANZ

Beghelli Group

Lone Star Funds / Hudson Advisors

AEW Europe

TRIUVA / Patrizia

WING

CODIC

ZFP Investments

IAD Investments

Polat Group

CORPORACIÓN MASAVEU

FORESPO

Work highlights

  • Advising KKH Property Investors on the sale of the Hold 16 Hotel Development Project.
  • Advising CORPORACIÓN MASAVEU on the sale of the Iberostar Grand Hotel Budapest.
  • Advising Skanska on the development and lettings of Nordic Light Trio Office Building.

Partos & Noblet in co-operation with Hogan Lovells International LLP

Christopher Noblet and Sándor Békési co-head Partos & Noblet in co-operation with Hogan Lovells International LLP's practice, which has demonstrable strengths in real estate acquisitions and disposals, reorganisations and lease agreements. Noblet is experienced in high-value regional transactions and recently advised Goldman Sachs on the sale of Budapest office building C6 to Skanska. Békési is 'an exceptional leader' and 'deeply involved in every matter'; his areas of expertise include acquisitions, leasing and management. He is currently assisting Goldman Sachs with negotiating major leases, construction and operational matters following its acquisition of a major science park complex.

Practice head(s):

Christopher Noblet; Sándor Békési

Testimonials

‘The teamwork that this team displayed was fascinating and each and every member was easily accessible.’

Key clients

AEW

Mapletree

Goldman Sachs

NEPI Rockcastle

JR AMC

Mammut Zrt

Lone Star

(DWS) Deutsche Asset Management

Prologis

Accelerate Property Fund

Louis Vuitton Malletier

M7 Distribution Center

Vajda-Papír

Premier Outlets

Work highlights

  • Advising JR AMC on their debut investment in Central Eastern Europe, being the acquisition of the Nordic Light Trio building from Skanska.
  • Advising Mapletree on leasing matters at its logistics warehousing sits at Batta and Üllő. This mandate has involved negotiating and arranging signing of two leases during the lockdown period.
  • Assisting AEW and its local entities on leasing and other operational matters in relation to its office building at Andrássy út 11 and 12.  

Siegler Bird & Bird Ügyvédi Iroda

At Siegler Bird & Bird Ügyvédi Iroda, Ferenc Mátrai has 30 years of experience in real estate, construction, corporate law and PPP. He has a strong background in built-to-suit lease developments, commercial office building and shopping mall developments. Mátrai has been involved in some of the largest PPP transactions seen in Hungary, particularly those in the sports industry, such as Dagály Swimming Palace, the Puskás Arena (the new national football stadium) and the Bozsik football stadium.  

Practice head(s):

Ferenc Mátrai

CERHA HEMPEL Dezső & Partners

The Budapest office of CERHA HEMPEL Dezső & Partners regularly represents German-speaking real estate investors, developers and other entities in commercial infrastructure development and construction projects, lease agreements, construction contracts and real estate portfolio management matters.Wilhelm Stettner is noted for his handling of real estate transactions and construction litigation, while Attila Marjai  focuses on leases and contentious work on behalf of domestic and multinationals.

Practice head(s):

Wilhelm Stettner

Other key lawyers:

Attila Marjai

Key clients

SVETA Group

CA Immobilien Anlagen AG

Patrizia Immobilien AG

value one Holding AG /MILESTONE

Diófa Alapkezelő Zrt.

SPAR Group

Tungsram Group

Raiffeisen Ingatlan Alap (Raiffeisen Real Estate Investment Fund)

InfoGroup

Galleon Capital Management GmbH

PORR GmbH

Work highlights

  • Advised Galleon Capital Management GmbH in the acquisition of Rumbach Center Office Building located in the heart of Budapest.
  • Advised Value One Holding AG in the sale of a private student dormitory with 418 single rooms, located in the centre of Budapest.
  • Advised Magyar Posta Takarék Ingatlan Befektetési Alap (the real investment estate fund of the Hungarian Post) represented by its fund manager, Diófa Alapkezelő Zrt. in the sale of an out-of-use hotel building located in Pécs, Hungary.

Deloitte Legal Göndöcz and Partners Law Firm

Deloitte Legal Göndöcz and Partners Law Firm focuses on investments into brownfield and greenfield renewable energy projects. It assists real estate investment funds and developers with property acquisitions, project development and also lessors and lessees of shopping malls/retailers, office buildings and industrial properties. Key contacts include corporate partner Péter Göndöcz and head of real estate Magdolna Csider, who is fluent in English and Japanese, and is the main figure for Japanese clients. Senior associate Gábor Babus is also noted.

Practice head(s):

Péter Göndöcz; Magdolna Csider

Other key lawyers:

Gábor Babus

Work highlights

  • Assisting ABO Wind with due diligence reports, advising on legal structuring, the reclassification of agricultural lands, and the drafting and reviewing of construction and operation agreements in relation to the client’s photovoltaic plant projects.
  • Advising a Japanese manufacturing company in the acquisition of land for the construction of the factory to expand its business in Hungary.  The land consists of multiple target properties, which will be transferred on separate dates due to financing considerations, the sale and purchase agreement will contain two closings and a complex closing mechanism.
  • Advised the buyer, Aluminios CORTIZO S.A in connection with the acquisition of a planned 95-room hotel building under development, located in downtown Budapest. The transaction required legal and tax structuring that is non-standard on the Hungarian market, as well as reviewing the hotel’s management agreement.

Jalsovszky

Jalsovszky's team has expertise in all types of commercial, residential and industrial properties. Its client roster includes real estate investors, developers, banks and investment funds, such as Diófa, Indotek and Infogroup. Péter Gyimesi and Levente Bihari are the main partners acting primarily on sales and purchases. Pál Jalsovszky is another key name.

Practice head(s):

Pál Jalsovszky; Péter Gyimesi; Levente Bihari

Key clients

Indotek

Magyar Posta Takarék Ingatlan Befektetési Alap

Infogroup

Human Centrum

CB Engineering Korlátolt Felelősségű Társaság

Y.B.L. Lindner

Voltana

VGP NV

Callis

Work highlights

  • Advising Infogroup on acquisition of an industrial park in the countryside of Hungary with appr. 40,000 sq.m rentable area. The transaction was the largest acquisition in the history of the client.
  • Advising both parties on the sale by Magyar Posta Takarek Ingatlan Befektetesi Alap of the Buda Business Center Office Building located in the central part of Buda with appr. 6,500 sq.m rentable area to a Hungarian real estate developer and investment fund.
  • Advising Magyar Posta Takarek Ingatlan Befektetesi Alap on the sale of a retail portfolio consisting of four separate retail units located in different cities, to one buyer.

KCG Partners Law Firm

Eszter Kamocsay-Berta and Gabriella Gálik co-head KCG Partners Law Firm's 'highly skilled and experienced' real estate group. The practice focuses on corporate real estate transactions, industrial property developments and investments, both from Hungarian and foreign entities, into greenfield and brownfield projects. Notable mandates included advising on LEGO’s €654m toy manufacturing plant in Nyíregyháza, Eastern Hungary.

Practice head(s):

Eszter Kamocsay-Berta; Gabriella Gálik

Testimonials

‘Highly skilled and experienced with Hungarian, English and French speaking colleagues. ’

‘Experienced, with high level of customer focus’

Key clients

LEGO

TPLG Tout Pour Le Grain

Suntec Industries

FésGM Kft – M20 Project

Work highlights

  • Advising FésGM Kft, a Hungarian construction company in the negotiation and preparation of the general contractor agreement for the M20 Project, a luxury residential development in the city centre of Budapest.
  • Advised TPLG Tout Pour Le Grain is the establishment of its Hungarian site created with its Hungarian partner company, for the manufacturing and assembly of certain accessories and elements for the automatic grain sampling system for the Eastern and Southern European markets.

Lohn Law Firm

Balázs Kis is the main partner at Lohn Law Firm, which handles commercial real estate transactions, property management, agency work and related litigation. The practice has a depth of expertise in the hospitality and leisure sector, with a focus on hotel development projects. Name partner Balázs Lohn is also recommended.

Practice head(s):

Balázs Lohn; Balázs Kis

Testimonials

‘I can enthusiastically recommend Lohn Law Firm. They are: – professional – flexible – result oriented – fast – concise’

‘The partners and associates are very professional, perfectly fluent in English and they all have commercial mindset as well. These make collaboration most efficient and fruitful.

‘The team is uniquely experienced in designer and related copyright, IP and other matters, which allows us to effectively proceed with contracting and other legal phases.’

‘The team is always responsive in a timely manner with clear and concise advice’

Key clients

Big4 Hotel Kft.

NYÍRTERV-PLUSZ Kft.

Özyer Group

Kuantum Property Kft.

The Art of Voyage Kft.

Work highlights

  • Advised Kuantum Property Kft. on acquisition and leasing of a 3* hotel in Budapest.
  • Advising Özyer Group and its Hungarian subsidiary Melis Investment on the purchase and hotel development of South Klotild Palace, a landmark building in downtown Budapest.
  • Advising Big4 Hotel Kft.  on a hotel development of a building located downtown Budapest. Advising the client on long term lease to a leading hotel franchise operator, construction and development financing matters.

Schoenherr Hetényi Ügyvédi Iroda

Schoenherr Hetényi Ügyvédi Iroda is experienced in cross-border real estate transactions, both as shares and asset deals, as well as lease negotiations, greenfield investments and real estate litigation. Multilingual in Hungarian, English and German, László Krüpl  shows 'great understanding of the case' and is able to advise on high-value property sales and acquisitions, leases and investments into the Hungarian commercial real estate and infrastructure sectors.

Practice head(s):

László Krüpl

Testimonials

‘Laszlo Krüpl headed the team and was our contact. His dynamic and practical approach helped in our negotiations with the seller.’

We are very satisfied with Laszlo Krüpl, he is a dynamic and clever lawyer with a remarkable legal knowledge and excellent communication skills.’

‘They are very direct and immediate, so our communication is very good.’

‘The team provided very quick and professional approach with short reaction time. The team does have the experience needed to evaluate swiftly real estate contract conditions on the current real estate market.’

‘Mr. László Krüpl has showed great understanding of business case and a quick response which was highly appreciated.’

‘Very quick help and support. Recommendations are clear and practical. Always highlighting all pros and cons.’

‘In my view the law firm provides very good value services, the team members are promptly reachable and have an out-of-box thinking.’

Key clients

Covivio

GTC

B&B

Bridge Group

List Group

Doosan

Hauser

CargoE

Erste Bank der oesterreichischen Sparkassen

Euro Pool System

Private Client Fiduciary Corporation

Schott

Work highlights

  • Advised French real estate investment trust Covivo on its €573m investment to purchase eight hotels across CEE, including the New York Palace Hotel and New York Residence Hotel, to be leased to NH Hotel Group.
  • Advised Global Trade Centre S.A., a Polish company trading on the Warsaw and Johannesburg Stock Exchanged, on the due diligence of the portfolio, including numerous office buildings in Budapest in connection with the sale of the majority (61.49%) shareholding in GTC by Lone Star Funds to Optimum Ventures Private Equity Fund.
  • Advised the French B&B, Europe’s third largest budget hotel chain, on the acquisition as well as the sale and lease-back of a newly developed hotel in Budapest.

Szécsényi és Társai Ügyvédi Társulás

Szécsényi és Társai Ügyvédi Társulás has notable expertise in the commercial real estate sector, where it advises corporates, developers and investment funds on big-ticket transactions, property management and the real estate aspects of establishing new business operations in Hungary. László Szécsényi often acts for German and Austrian clients, as well as other international blue-chip corporates and investment funds, on acquisitions and disposals of their Hungarian and other CEE property assets. Dániel Kellner and Balázs Vágvölgyi are also recommended.

Practice head(s):

László Szécsényi

Other key lawyers:

Dániel Kellner; Balázs Vágvölgyi

Key clients

CBRE Global Investors

Allianz Real Estate

Driehaus Enterpise Inc.

Strabag Real Estate

Shikun&Binui

Wing Zrt.

CPI Property Group

Yasmin Hotel Kft

Bishoff and Compagnions

BWT Hungary

Pfleger GmbH

M7 Real Estate

Teichmann & Co.

Pepkor

Corso Invest Group

Work highlights

  • Advising M7 Real Estate on the acquisition of an office building in Budapest from a Hungarian real estate fund.
  • Advised CBRE Global Investors on the acquisition of Corner6 Office Building.
  • Advising Wing on the sale of a real estate portfolio consisting three office buildings in Budapest.

Szabo Kelemen & Partners Attorneys

At Szabo Kelemen & Partners AttorneysTamás Szabó is the main contact. The firm is a popular choice for property sales and acquisitions, including agricultural land, greenfield, mixed-use and those incorporating casino/gaming facilities. Another key figure is Domonkos Kiss, who assists with project developments, real estate finance, litigation and the negotiation of property management services. Levente Kálmán is also recommended.

Practice head(s):

Tamás Szabó; Domonkos Kiss; Levente Kálmán

Key clients

CTP Management Hungary Kft.

Multi Group (Dutch-owned asset management company)

MMG Hotels

Office Garden (GRT Group)

Work highlights

  • Advising CTP Management Hungary on large-scale greenfield investments involving the construction of logistics and manufacturing facilities, and also on the utilization (renting) and operation of existing logistics facilities.
  • Advising Multi Group, a Dutch-owned asset management company as the new operator of Allee Shopping Mall (one of the largest commercial and office centres of Budapest) on day-to-day management. Work includes new and existing lease agreements, tenant disputes,  and participation in tenders for the letting of office space.
  • Advised the Mellow Mood Group on restructuring its financing of 7 hotels (6 in Budapest and one in Vienna) by interbank refinancing transaction).

Szecskay Attorneys at Law

Szecskay Attorneys at Law specialises in real estate acquisitions and development ventures, particularly in relation to green-field investments. It also assists in the preparation of sale and purchase agreements, drafting architectural designs and contractors' agreements, as well as standard lease agreements. Patrick Tausz and Attila Jásdi are the main points of contact for substantial investments and transactions.

Practice head(s):

Patrick Tausz; Attila Jásdi

Testimonials

Mr. Jásdi is very detailed making sure all the bases are covered and all possible outcomes are clear with the expected probability. At the same time, he is driven to get always the maximum out of all the cases we work on.’

Key clients

Aalberts Integrated Piping Systems Kft.

AUTONET Group

Auchan Hungary Kft.

Burger King (Fusion Investment Company Ltd.)

BIF (Budapesti Ingatlan Hasznosítási és Fejlesztési Nyrt.)

Ceetrus Hungary Kft. (Former Immochan)

Claire’s Hungary Kft.

Work highlights

  • Advising Auchan Hypermarket Group on the purchase of various real properties, and the establishment of various Commercial Centers in Hungary. Advised on numerous greenfield investments and the establishment of their hypermarket chain in Hungary.
  • Providing ongoing legal advice to BIF, one of Hungary’s market-leading real estate investment and development companies, on acquisition of a building classified as a historical monument on Andrássy avenue and an office building located in the center of Budapest.
  • Assisting Meininger Hotels Hungary with drafting and negotiation of various amendments to the development and lease agreement concluded for the setting up of Meininger’s first Hungarian Hotel, and also handling the obtaining of the administrative licenses required to open and operate the hotel.

Wolf Theiss Faludi Erős Ügyvédi Iroda

Wolf Theiss Faludi Erős Ügyvédi Iroda's multidisciplinary team applies its wider expertise in corporate, regulatory and TMT to the real estate sector. Recent examples of its work included advising real estate developers and management companies on regulations and the procurement of electricity and private network usage in shopping malls, office buildings and industrial parks. The practice has also introduced software, "Lease.IT" and "Build.IT" to assist clients with efficient production of lease agreements and developer contracts. János Tóth advises on project developments, sales and acquisitions and real estate restructuring. He is also a specialist in the legal intricacies of BIM (Building Information Modeling), which is a software designed to help construction professionals design, construct, and manage buildings and infrastructure.

Practice head(s):

János Tóth

Key clients

RECOM AG

Enlight Renewable Energy Ltd.

Hungarian branch of one of the largest listed international insurance groups in the CEE

Principal Europe

Oracle Hungary Kft.

Work highlights

  • Advising RECOM in connection with the acquisition of a 75 MW solar renewable energy investment project in Hungary.
  • Advising the Hungarian branch of one of the largest listed international insurance groups in Central and Eastern Europe in connection with the conclusion of an anchor lease agreement in a Budapest retail property.
  • Advising Oracle Hungary in relation to their anchor office lease in Budapest One (a project by the Futureal Group).

Allen & Overy

Allen & Overy's Budapest real estate team has a wealth of cross-border experience, as is reflected by its involvement in the real estate aspects of M&A deals, finance transactions, construction projects and leases. Investors, banks and Middle Eastern based real estate groups are among its active clients. Balázs Sahin-Tóth and corporate partner Zoltán Lengyel are the key advisers.

Practice head(s):

Zoltán Lengyel, Balázs Sahin-Tóth

Key clients

Apex Hungary Ltd

Colfax / ESAB

Goodman European Partnership and Goodman Group

UniCredit Bank Hungary Zrt.

Work highlights

  • Advised Goodman European Partnership and Goodman Group on the sale of assets in Central and Eastern Europe for approx. EUR1bn to GLP. The transaction includes properties located in Poland, Hungary, Czech Republic and Slovakia.
  • Advising Apex Hungary (former name: Link Hungary) on the extension agreement of its current lease and a new lease agreement.
  • Advising Colfax / ESAB on its current lease agreement and a new lease agreement.

bnt | attorneys-at-law

bnt | attorneys-at-law has a strong focus on advising German-speaking clients on the real estate aspects of their business operations, such as obtaining licensing and permits, negotiating leases, property management and related advice on operating in the Hungarian market. Hungary and Germany-qualified partner Rainer Tom acts for a range of clients on real estate acquisitions and investments in greenfield energy projects, office building and industrial plots.

Practice head(s):

Rainer Tom

Testimonials

‘bnt is a unique law firm in CEE. Their CEE network really works in real life, their experience in the region is the key to their success. Working with bnt is as easy as working with any of my direct colleagues.’

‘Dr. Rainer Tom, partner of bnt is an outstanding character, an impressive negotiator. His strong charisma and excellent knowledge of the real estate business always brought us benefits at the negotiating table.’

Work highlights

  • Assisting Nestlé Hungary Kft. with the planning and construction of their new pet food plant in Hungary.
  • Acting for AGCO Corporation Hungarian subsidiary in its negotiations with a major real estate developer, CTP, regarding the development of new manufacturing halls and regional HQ in Biatorbágy.
  • Ongoing support to Robert Bürkle GmbH in relation to the operation, maintenance and expansion of the manufacturing built-to suit leased facility in Debrecen.

Nagy és Trócsányi Ügyvédi Iroda

Nagy és Trócsányi Ügyvédi Iroda provides 'excellent support' in relation to the acquisition and disposal of greenfield developments, retail units and office buildings. Its team is also experienced in handling real estate portfolios and the management of commercial leases. Managing partner Péter Berethalmi, who has extensive real estate experience, is praised for his ability 'to find flexible solutions in seemingly deadlocked situations'.

Practice head(s):

Péter Berethalmi

Testimonials

‘Partners’ availability and responsiveness is impressive, 24/7. Their flexibility is also much appreciated: capacity to organize a signing meeting with 24 hours’ notice in the middle of the summer break. Value for work done is very good. Billing is transparent. Never had bad surprises.’

‘Availability and responsiveness. Knowledge of the industry business Negotiation approach : partners are pragmatic and view themselves as facilitators of transactions’

‘The law firm provides excellent support in any type of real-estate related issues. They understand the problems quickly and react to them very professionally, yet in a way that everyday people also understand the scenarios they worked out.’

‘They are always polite to the highest extent; approachable any time and have unlimited patience to explain the different scenarios as long as the client sees the whole picture clearly.’

‘They are very much flexible, business-minded, very good at helping non-professional contracting counterparties get into the way to achieve mutual understanding and consensus. ’

‘Mr. Berethalmi is a very professional attorney having the sense of balancing in negotiations between client’s needs and counterparty’s interests in order to achieve common understanding which is best for his own client. Having huge experience he is able to find flexible solutions in seemingly deadlocked situations. ’

‘Quality of partners; Efficiency in delivering; Communication & case/matter management’

Key clients

Givaudan Business Solutions

CMC (China National Machinery Import & Export Corporation)

FOSS/Soft Flow

Work highlights

  • Advised Givaudan Financial Services Centre of Givaudan on the commercial lease of its new offices in a new office building.
  • Assisting CMC, China’s first large-scale state-owned foreign trade company specialized in import and export of mechanical and electrical products and international engineering contracting on its €1bn investment in a 100 MW solar park in Kaposvár, southwest Hungary.
  • Advised Soft Flow on the acquisition of a building plot near Pécs and with its greenfield investment, setting up an ultramodern biological research centre.

Réti, Várszegi and Partners PwC Legal

Réti, Várszegi and Partners PwC Legal, which operates under the global network of PricewaterhouseCoopers, offers multidisciplinary real estate expertise which includes tax and business advisory services and real estate valuation. Core areas of activity include sale and purchase transactions, real estate investments and property finance. László Réti and Dóra Horváth are the main contacts.

Practice head(s):

László Réti; Dóra Horváth; Eszter Gally; Dániel Kelemen; László Szűcs

Testimonials

‘Quick response, alternative solutions, extensive and up-to-date professional knowledge, helpful and supportive attitude’

‘Confidence, communication, promptness, availability, problem-solving’

Key clients

BKV Zrt.

ROSSMANN Magyarország Kereskedelmi Kft.

AT Asset Management Kft.

Flisom Hungary Kft.

Work highlights

  • Advising ROSSMANN Magyarország Kereskedelmi Kft. on its 200 commercial real estates, including real estate transactions, lease agreements, legal disputes, public law restrictions and further administrative proceedings.
  • Representing BKV Zrt. (one of the biggest public transport provider companies in Hungary) in a lawsuit related to the acquisition of an easement right by adverse possession.
  • Representing AT Asset Management Kft. in a complex real estate purchase transaction.

Sándor Szegedi Szent-Ivány Komáromi Eversheds Sutherland

Sándor Szegedi Szent-Ivány Komáromi Eversheds Sutherland provides 'great quality of service' in relation to sales and purchases of land, rezoning and planning, as well as commercial lease work in the consumer goods, retail and industrial sectors. Richárd Eördögh and Péter Sándor  are experienced in the real estate aspects of corporate transactions and litigation. Katalin Varga advises on build to suit lease agreements and construction agreements.

Practice head(s):

Richárd Eördögh; Péter Sándor; Katalin Varga

Testimonials

‘All members of the team are very helpful and ready to work to strict deadlines. They provide a great quality of service in a timely manner and always remain professional.’

‘As a company, we work in particular with Dr. Kinga Mekler (Associate) and Dr. Richard Eordogh (Partner). They both present great knowledge in their field, remain informative, helpful and proactive with their work.’

Key clients

Autoliv

Chesterton

Josab Hungary

Pappas

Somfy

Orange

Xylem Water System Hungary

J. C. Neckermann

Toyota

Yves Rocher

Work highlights

  • Advising Sportsdirect.com, a sports retail and e-commerce player, on negotiation and conclusion of various long-term lease agreements, as part of its expansion into the Hungarian market.

Vámosi-Nagy Ernst & Young Law Office

Vámosi-Nagy Ernst & Young Law Office focuses on providing tax-driven structuring and transactional advice. It offers a multidisciplinary approach in real estate transactions and the real estate aspects of M&A. Szabolcs Posta is the main figure for real estate investments and acquisitions.

Practice head(s):

Szabolcs Posta

Key clients

International Investment Bank

Lotte Aluminium Co., Ltd.

Work highlights

  • Advising an international investment bank on acquisition of the “Lánchíd Palace” office building, one of the greatest landmark buildings in Budapest.
  • Advising Lotte Aluminium Co., Ltd. on a greenfield investment setting up a new aluminium manufacturing plant.