Real estate and construction in Hungary

CMS

CMS‘ market-leading real estate and construction practice has a strong presence in Hungary and throughout the CEE region. Its work spans all asset classes, including retail, healthcare, energy, hotels/leisure and industrial. The majority of the firm’s instructions are made up of property portfolio sales and acquisitions across the region, but the firm also sees a steady uptick in mandates connected with construction and development projects, as well as construction litigation. Practice head Gábor Czike specialises in acquisitions, developments, constructions and leases. József Várady advises foreign clients on significant real estate transactions, particularly those from a German background. Senior counsel András Klupács is also recommended.

Practice head(s):

Gábor Czike; József Várady

Other key lawyers:

András Klupács

Testimonials

‘CMS Budapest has been very helpful in advising on all aspects related to our real estate project in Hungary, and on M&A transactions related to real estate. Their service was very professional and solution-oriented, and also very cost-efficient.’

‘We have a longstanding relationship with CMS Budapest. They are excellent in real estate portfolio sales and acquisitions and they can provide industry-specific advice, like leasing agenda, development projects and construction litigation.’

‘Gábor Czike heads the real estate practice at CMS. He knows the markets inside out and is an expert on all things real estate. This particular expertise is always allowing him to contribute to the successful closing of our transactions. József Várady is also a distinguished professional, always accountable and giving us prompt replies. He has an exceptional business mindset. ’

‘CMS is Hungary-wide recognised for its leading position and valued for a nuanced understanding of the Hungarian real estate market. Our company has a longstanding and very well working relationship with the firm and lately they have advised us in relation to several real estate matters as well including office leases.’

‘My main interaction is with Gabor Czike. Gabor can cope with the most difficult and tense situations in a very cool calming manner. He has answers to almost anything in an instant and doesn’t need to take time to refer to legal code etc such is his vast experience. It’s an absolute pleasure to deal with Gabor.’

Key clients

Allianz Real Estate

GTC

RTL Televízió Zrt.

GLP

Atenor Group

Futureal Group

Cordia

SRF

Pepkor Ingatlan Kft.

Fatal Group

Bluehouse Group

Portico

Tőzsdepalota Kft.

Work highlights

  • Advised Futureal on high profile lease agreements, various joint venture agreements, and on acquisition of “Marina beach” from CIB Bank.
  • Advised Becton Dickinson on the extension of a syringe factory in Tatabánya-Környe industrial park.
  • Advising Atenor, a real estate property development company on the sale of Váci Greens E and F buildings and on the acquisition of a 92,183 m2 residential area in Buda.

Dentons

Dentons is a first port of call among clients on sophisticated asset and share transactions, financings and diverse development and leasing arrangements. Its team’s wide-ranging experience includes mandates relating to office buildings, residential assets, retail centres, hotels and logistics premises. The group’s real estate expertise is complemented by strengths in planning and zoning policies, as well as environmental issues. Judit Kővári is the ‘absolute mastermind and cornerstone’ of the practice, advising on M&A, greenfield investments, infrastructure developments, zoning and permitting issues. She also supports developers on construction and project financing matters. Marcell Szőnyi is another central figure, as are associates Anna Gerendás and Rita Várnagy.

Practice head(s):

Judit Kővári

Other key lawyers:

Marcell Szőny; Anna Gerendás; Rita Várnagy

Testimonials

‘Sound experience in dealing with major, local and global international real estate transactions. High level advises also on the setting up of company’s and development project’s structure to support a flexible, future investment exit.’

‘Judit Kövari has extensive experience and remains the absolute mastermind and cornerstone of Denton’s RE department. She can rely on a well-instructed, senior layers team to follow up.’

‘Dentons’ real estate team is involved in almost all the big transactions from the side of potential sellers or buyers. They have broad experience concluding lease agreements, construction and/or general contractors’ agreements or due diligence processes and sale transaction on a cooperative way.’

‘The Dentons Budapest real estate team has a deep understanding of the Hungarian and CEE markets. It has a strong international footprint and a solid understanding of the challenges of the local market, these qualities match to GTCs regional footprint and requirements, and the team is ideally positioned to represent us regarding transactions, development projects and leases.’

‘Judit Kövari is a well-known name in the real estate sector. She has a wealth of experience advising investors and developers in Hungary. Based on the size and the value of our projects, we would never go for less. ‘

‘Rita Várnagy has been working with Judit and Marcell on our key transactions this year and we were very pleased with the smooth signing and closing process of such deals. There is a strong cohesion within the Dentons real estate team. The combination of senior management and well-trained team members makes sure all of our transactions are managed effectively, no matter the timeline.’

‘Rita Várnagy – excellent legal knowledge, significant transactional, permitting, and general legal experience, outstanding problem-solving skills, top-quality young lawyer – one to watch!’

Key clients

Orbis SA

SkyGreen Buildings Kft.

Globe Trade Centre S.A. (GTC)

Heitman International

Starwood Capital Group

AEW Europe

White Star Real Estate

Codic

Skanska

Work highlights

  • Advised the Hungarian subsidiary of Globe Trade Centre S.A. (GTC), the leading Warsaw-listed CEE commercial real estate company, on its sale of Spiral, a landmark office building in Budapest, to Hungarian real estate developer MFB-Ingatlanfejlesztő Zrt.
  • Advised SkyGreen Buildings, a member of a leading Hungarian investor group on its sale of Eiffel Square, a prime office complex in central Budapest.
  • Advised CPIPG on the legal and financial advisory aspects of the bond issuance with a Budapest-based team of lawyers and advisors.

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

Hegymegi-Barakonyi and Partner Baker & McKenzie Attorneys-at-Law is praised for its expertise supporting Hungarian and international clients in structuring, negotiating and executing acquisition transactions, commercial leases and development and construction projects. Heading the team, Benedek Kovács is a ‘market leader in his field’ and primarily works on sale and acquisition of office and commercial buildings, large relocation projects for overseas companies and investors, and lease agreements. Senior associates Bianka Kovács and Neil Simonyi are also key contacts. Éva Dobos joined Indotek Group.

Practice head(s):

Benedek Kovács

Other key lawyers:

Bianka Kovács; Neil Simonyi

Testimonials

‘Benedek Kovács and Bianka Kovács have top market knowledge, practical thinking, and know exactly what the client’s needs’

‘Benedek Kovacs is an outstanding lawyer, who is really a market leader in his field with extensive clientele with local and international players and with construction to investment portfolios included. He has quick solutions to every single problem in each transaction with extensive market knowledge, and very easy to work with.’

‘The firm has extensive knowledge of and experience in the particular legal area and the industry. The firm provided outstanding client service, excellent value for money and they delivered to budget.’

‘Benedek Kovács has a commanding knowledge of the industry, which made working with him truly easy and efficient from the very beginning throughout the process. Associate/junior lawyer Neil Simonyi contributed to the project with high-quality drafting and her efforts to deliver on a demanding deadline.’

‘Benedek Kovács is a good partner with local knowledge and good business acumen.’

Key clients

Nestlé

Shanghai Energy New Materials Technology Co.,Ltd (SEMCORP)

Atenor S.A

Lidl

InPark,

Warburg-HIH Invest

IVY Technology

Raiffesien Bank

Erste Bank

CBRE Global Investors

Hungarian Investment and Promotion Agency

Real estate asset management company of Debrecen Municipality

VGP

JDC Hungary

Work highlights

  • Advised Nestlé in connection with the expansion of their Hungarian operations in Hungary, including (i) the acquisitions of up to 20 hectares of land; and (ii) the construction of the extension of its production hall.
  • Advising SEMCORP in connection with the acquisition of a land plots of 19 and of + 16 hectares to set up and operate its plant in Debrecen, Hungary as Semcorp’s first manufacturing plant outside of China.
  • Advising INPARK on the biggest greenfield project in Hungary’s history relating to SK Innovation’s new plant investment in Iváncsa, Hungary.

Lakatos, Köves and Partners

Lakatos, Köves and Partners continues to be a dominant name in development projects, real estate project financing, acquisitions and disposals, and portfolio management, often on behalf of foreign investors. The firm also reports strong activity in the logistics, automotive and manufacturing sectors, and increased instructions by Asia-based clients, aided by its ability to deploy Japanese and Mandarin Chinese speaking lawyers within its wider team. Attila Ungár is the lead partner for property and land sales, acquisitions and lease agreements. Senior associates Júlia Várkonyi, Zsuzsanna Ilyés and Ágnes Hegyi are other names to note, as is Tamás Balogh. Tamás Oláh joined Dentons.

Practice head(s):

Attila Ungár

Other key lawyers:

Júlia Várkonyi; Zsuzsanna Ilyés; Ágnes Hegyi; Tamás Balogh

Testimonials

‘Extremely client-focused. Pragmatic approach. A good sense of the business behind the legal and with that a very thorough and fair advice.’

‘Agnes Hegyi is a powerhouse. Fully available, and very quick to understand the issues and what is being requested. She constantly reinvented a deal to provide for tailor-made solutions.

‘Attila Ungar, spearheading the team is also a very confidence-inspiring lawyer. Quick, witty and with extreme knowledge of the laws and of the market, he truly makes the client feel confident.’

‘They value our concern and protect our interests all the time and helped us to smoothly close the transaction.’

Key clients

Indotek

Fidelidade – Companhia de Seguros, S.A.

VGP

Vodafone

Soulbrain

Toyo Ink

CTP

GLP Partners

Dorkan Property Kft.

O-I Orosházi Üveggyár

Peridot Financing Solution LLC

Work highlights

  • Represented Vodafone-UPC in connection with the lease of its new headquarters, a 14 140 m2 lease in Budapest ONE Office Park.
  • Advising Hungarian investor Indotek Group on the proposed acquisition of Globe Trade Centre’s Belgrade office portfolio (GTC’s Serbia portfolio). The agreement covers the sale of 11 buildings within 5 business parks, located in the New Belgrade district.
  • Advising GLP on the multi-phased construction of a logistics centre in Szigetszentmiklós (a distribution/warehouse building and all ancillary infrastructure), including drafting and negotiation of the related EPC agreement and payment trustee agreement and lease agreements concerning an approximately 40,000 sqm area of warehouse space and 1,080 sqm office space.

Andrékó Kinstellar

Andrékó Kinstellar has a strong profile among real estate investment firms and asset management companies. It primarily assists with acquisitions and disposals of real estate, which includes advising investors on land development and plant establishments, portfolio management and greenfield investments. Anthony O’Connor takes the lead in advising foreign investors, private equity and sovereign wealth funds, in relation to acquisitions and disposals of Hungarian and regional real estate assets. He is assisted by counsel Mónika Frank and senior associate Marcell Horváth.

Practice head(s):

Anthony O’Connor; Mónika Frank

Other key lawyers:

Marcell Horváth

Testimonials

‘Excellent knowledge of real estate law. The team works hard to find the best solution for the client and displays thoroughness and professionalism.’

‘Mónika Frank is an excellent professional, and is flexible, patient and solution-oriented.’

Key clients

GLP

Resolution Property

Klépierre

Skanska

SK Innovation

Logicor

HB Reavis

Work highlights

  • Advising GLP on the approx. €1bn acquisition of Goodman Group’s Central and Eastern Europe logistics portfolio, together with the approximately 40-person team of Goodman Group working in the region.
  • Advising SK Innovation, the operator of the largest oil refinery in the country and the leader in the domestic petrochemical industry and a global trader of crude oils and petrochemicals, in connection with its second land acquisition in Hungary
  • Advising Resolution Property IM LLP on the acquisition of Margit Palace and Buda Square (ca. 37,200 sqm office portfolio).

DLA Piper Posztl, Nemescsói, Györfi-Tóth and Partners Law Firm in cooperation with DLA Piper UK LLP

DLA Piper has a well-established reputation for advising developers, investors and real estate investment funds on the full spectrum of contentious and non-contentious real estate matters. Practice head Szilárd Kui specialises in acquisitions, divestments, planning and zoning and leasing matters. Bettina Boncok assists with commercial leasing, zoning and construction issues.

Practice head(s):

Szilard Kui

Other key lawyers:

Bettina Boncok

Testimonials

‘Very good knowledge of the market and market standards.’

‘Szilard Kui – very good quality of work, always available, partner with great drive and always doing extra work for the client’

‘Professionalism, delivers good advice and spot-on analysis. Wide range of areas of expertise.’

Key clients

HB Reavis

Optima

Wing

GTC

Bristol Myers Squibb

Equilor Asset Management

Optimum Asset Management

Arcadia Asset Management

Avoris

Levi Strauss & Co

Work highlights

  • Advised HB Reavis in relation to negotiating a lease agreement for the Hungarian HQ of Huawei.
  • Advising GTC, a leading developer and asset manager in Central and Eastern Europe, on the acquisition of the Váci Greens D office building in Budapest.
  • Advising Optima on the sale of the 40.60% shareholding in its Budapest development project, located on the Váci Road office corridor, to the Chi Fu Investment Group.

Kapolyi Law Firm

Kapolyi Law Firm acts for clients on a wide range of matters connected with commercial, residential and industrial real estate premises. It works with a mix of clients, such as investors and developers, real estate funds, and landlords and tenants. The team's expertise includes real estate acquisitions and disposals, greenfield and brownfield investments, contentious warranty claim matters and construction agreements. Sándor Habóczky leads the practice. Name partner József Kapolyi is also a key figure.

Practice head(s):

József Kapolyi; Sándor Habóczky

Testimonials

‘Kapolyi Law Firm’s department plays a key role in real estate transactions in Budapest. They have a relatively big team of lawyers that makes it possible to handle a number of cases simultaneously. They provide excellent client care and attention, they are highly accurate, punctual, helpful.’

‘József Kapolyi, managing partner 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.’

‘I appreciate the extensive experience of  József Kapolyi. He monitored the transaction personally, not only by giving his name, but also providing ongoing professional personal supervision.’

Key clients

GTC Hungary Real Estate Development Ltd.

Kompakt Land Llc.

M7 CEREF I. Hungarian Propco Llc.

Azure Lands Hungary llc.

MHC Hotel Company Llc.

Green Real Estate Investment Fund

CW1 Real Estate Investment Fund

SENTIO Llc.

EQUILOR Investment Fund Management Ltd.

Center Point II Llc.

Bradley, Edwards & Associates Llc.

Auto Wallis Nyrt.

Blue Corso Ltd.

Work highlights

  • Comprehensively advised GTC on all construction law aspects of its newest, built-to-suit type of office development, called as the Pillar Office Building.
  • Advised Spanish hotel developers, MHC Hotel Company from the first scratch until completion on their prestigious five-star Budapest hotel development, KOZMO, opening in September 2021.
  • Advised M Seven on its exit sales of various properties of first real estate fund portfolio CEREF I.

Noerr

Noerr's team in Hungary is embedded in the firm's wider pan-CEE practice. It is able to advise on a wide range of matters, such as greenfield investments, commercial and industrial development, financing and property management. A distinguishing feature of the firm's offering is its ability to advise on state aid matters. The practice is well known for its strong portfolio of German-speaking clients. Zoltán Nádasdy leads the team, which includes banking partner Edina Schweizer, counsel Ákos Mátés-Lányi and senior associate Szilvia Andriska.

Practice head(s):

Zoltán Nádasdy; Edina Schweizer

Other key lawyers:

Ákos Mátés-Lányi;  Szilvia Andriska

Testimonials

‘Ákos Mátés-Lányi has exceptional knowledge of the industry. He never misses any deadlines and always gives innovative and practical solutions.’

‘Zoltán Nádasdy as lead partner helps us in all fields. He leads a highly professional team. Very good knowledge of the industry, experienced, reliable and very flexible at the same time.’

‘Ákos Mátés-Lányi and Zoltán Nádasdy are extremely responsive and possess a very good understanding of the need of the client.’

Key clients

Indotek

SIGNA Group

Shenzhen Kedali Industry Co., Ltd.

Hilti AG

Valeo Siemens e-Automotive Hungary Kft.

Debrecen Asset Management – DV Zrt.

thyssenkrupp

GTC Hungary

UniCredit Bank Zrt

K&H Bank

Work highlights

  • Advising Signa Group on the acquisition of furniture chain Kika/Leiner and subsequently on selling the CEE subsidiaries to XXXLutz
  • Advising Hilti on the acquisition of a building plot from MAG Hungary Zrt. in Kecskemét, Hungary
  • Advising Shenzhen Kedali on the acquisition of a warehouse and the adjacent plot in the vicinity of Budapest.

Oppenheim Ugyvedi Iroda

Oppenheim Ugyvedi Iroda generates mandates from clients such as property developers, lenders, private equity funds, REITs, operators and private owners. It particularly excels in acquisitions, financing and commercial leasing. In addition, other drivers of work include matters concerning planning and zoning, property development and construction. Márk Pintér is only the second Hungarian lawyer to be a member of the Royal Institution of Chartered Surveyors. Associate János Fodor has expertise in office and retail leases.

Practice head(s):

Márk Pintér

Other key lawyers:

János Fodor

Testimonials

‘Oppenheim has a young, small but very dynamic and flexible real estate team of professionals, who provide accurate, hands-on and business practical oriented advice.’

‘Mark Pinter is a seasoned senior lawyer with two decades of experience in real estate. He is a strong negotiator and always has the business interest of his client in mind.’

‘Oppenheim’s real estate team has earned its well-deserved name in the Hungarian real estate market. They are business-minded, which makes them easy to work with. They have significant experience in leasing and transactions. Their availability is outstanding, even under huge pressure.’

‘Márk Pintér – significant real estate experience, business-minded and flexible business partner.’

‘I worked with Márk Pintér and János Fodor. They are both responsive, creative and flexible. Whatever difficulty comes up, each of them is ready to offer a pragmatic solution.’

Key clients

Skanska

IMMOFINANZ

Beghelli Group

Lone Star Funds / Hudson Advisors

AEW Europe

TRIUVA / Patrizia

WING

CODIC

ZFP Investments

IAD Investments

Polat Group

Corporacion Masaveu S.A.

FORESPO

Work highlights

  • Advising KHH Property Investors on the Hold 16 Hotel Development Project.
  • Advising Corporacion Masaveu S.A. on the sale of Iberostar Grand Hotel Budapest.
  • Advising the Polat Group on residential development project of approx. 200 apartments called “Duna Pearl”.

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

Partos & Noblet in co-operation with Hogan Lovells International LLP's work is centred on areas such as the retail, office and industrial sectors. It operates across the CEE region, particularly in Austria and Slovakia. Sándor Békési has a well-balanced practice that covers sales, purchases and leasing transactions. He also has a strong background in contentious real estate and construction work. Elsewhere, the firm is developing its real estate finance offering, with a steady flow of mandates concerning the financing of commercial and logistics properties. Dual-qualified in the UK and Hungary, Christopher Noblet is the lead partner for international developers, banks and investors on CEE projects.

Practice head(s):

Christopher Noblet; Sándor Békési

Testimonials

‘The team acts as one, so you can catch up on any topic with any of the individuals as they would always be updated on each aspect of the transaction. The team is also very proactive, always a step ahead of the client based on a clear understanding of the client’s requirement.’

‘Sandor is a great friend and strong companion to have on your team. He is skilled in understanding the needs of the client and incorporating these into his works. He is also easily reachable which was especially important for us located on the other side of the globe.’

Key clients

Diligent Corporation

NEPI Rockcastle

Mapletree

JR AMC

AEW

(DWS) Deutsche Asset Management

Wolfgang Puck owned entity

Accelerate Property Fund

Louis Vuitton Malletier

Work highlights

  • 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.
  • Advised JR AMC on their debut investment in Central Eastern Europe, being the acquisition of the Nordic Light Trio building from Skanska and also on other potential investments in Hungary.
  • Advising AEW’s local entities on leasing and other matters in relation to its office building at Andrássy út 11 and 12.

Siegler Bird & Bird Ügyvédi Iroda

Siegler Bird & Bird Ügyvédi Iroda‘s real estate practice is led by Ferenc Mátrai, together with managing partner David Dederick, who have a wealth of experience advising investors, lenders and developers. Their work covers all phases of commercial developments, PPP projects, built-to-suit leases and other developments across the CEE region. The duo also handle high-value real estate financing mandates, with the support of its wider banking team, as well as zoning and planning, leasing and acquisitions.

Practice head(s):

Ferenc Mátrai

Other key lawyers:

David Dederick

Work highlights

  • Advising various Hungarian governmental bodies on a number of contractual, planning and construction issues in connection with the development of the Puskás Ferenc Stadium; a new campus for the Moholy Nagy Arts University; new campus for the National University of Public Service, and the redevelopment of the Hungexpo Fair Center.
  • Advised ConvergenCE in connection with the sale of the B52 office building in Budapest.
  • Assisting MOL with drafting and negotiation of the design and construction agreements for MOL’s new headquarters, which will be the first high rise building in Budapest.

CERHA HEMPEL Dezso & Partners

Led by Wilhelm Stettner, CERHA HEMPEL Dezső & Partners' real estate practice is a strong choice for land and property sales and acquisitions. Although the firm has historically focused on commercial assets, it has also seen a flurry of new instructions in relation to agricultural land purchases. The firm is also adept at property management, advising both landlords and tenants in the office, retail, logistics, university/student halls and hospitality sectors. Real estate financing, refinancing and restructuring mandates are also drivers of activity for the team. Stettner also acts for clients in construction disputes. András Fenyőházi is the name to note for construction and property development mandates.

Practice head(s):

Wilhelm Stettner

Other key lawyers:

András Fenyőházi

Testimonials

‘They are the master of details, have a strong client focus.’

‘We have worked with Wilhelm Stettner, the head of the real estate practice group. Mr. Stettner is highly client-oriented and very experienced, moreover he is highly respected on the market too.’

Key clients

CA Immobilien Anlagen AG

Patrizia Immobilien AG

value one Holding AG /MILESTONE

Galleon Capital Management GmbH

SPAR Group

Tungsram Group

Raiffeisen Ingatlan Alap (Raiffeisen Real Estate Investment Fund)

InfoGroup

PORR GmbH

MH Consulting Kft.

Wigan Acquisitions Group

Work highlights

  • Advising Bauhaus in the development of two hardware stores in Budapest, Hungary.
  • Continuing to advise CA Immobilien Anlagen AG, a market leader Austrian real estate developer and investor regarding the management of its entire Hungarian portfolio.
  • Advised Patrizia Immobilien AG as lessor on the conclusion of the COVID-19-related amendment of the lease agreement of a 4-star hotel in Budapest.

Deloitte Legal Göndöcz and Partners Law Firm

Noted for its expertise in photovoltaic (solar) investments and the wider renewable energy space, Deloitte Legal Göndöcz and Partners Law Firm‘s team advises on ESG-friendly real estate investments, working as part of a cross-departmental unit on ‘green’ leases and various other real estate matters associated with the setting up and operation of solar power plant projects. It also acts for REITs and other buyers on the acquisition of industrial properties, hotels and office buildings. Péter Göndöcz and Magdolna Csider co-head the group, which includes Gábor Babus.

Practice head(s):

Péter Göndöcz; Magdolna Csider

Other key lawyers:

Gábor Babus

Testimonials

‘Magdolna Csider is able to coordinate difficult legal debates to reach a mutual understanding. She displays a high level of professionalism and is always up to date with the newest changes in legislation.’

‘The Big4 Law Firms usually provide one-stop-shop services as they combine legal with tax and other advisory services. Deloitte provided such service and are amongst the best for real estate law advice.’

‘Magdolna Csider is leading the real estate practice at Deloitte Legal in Hungary. She was very easy to work with and she tried to reach a compromise during the contractual negotiations and was available at all times.’

Key clients

Wellis

Chervon Auto

ABO Wind

Bank of China

Trevelin Holding (Indotek Group)

Work highlights

  • Advised Wellis on the brownfield acquisition of its new manufacturing plant.
  • Advised Chervon Auto on the acquisition of the plot of its first European battery factory and subsequently on the planning and construction works of the factory.
  • Advising ABO Wind on a full spectrum of legal issues arising in connection with various photovoltaic (solar) plant projects.

Jalsovszky

Jalsovszky has a strong track record in the acquisition and sale of commercial, high-end residential and industrial properties; its capabilities in this space are enhanced by its ability to advise on related tax issues. Elsewhere, working with the banking department, the team advises on the financing of solar power plant projects, as well as handling real estate issues. Levente Bihari is the lead partner for all property, financing and development transactions. Péter Gyimesi is another key individual.

Practice head(s):

Levente Bihari

Other key lawyers:

Péter Gyimesi

Testimonials

‘Jalsovszky Law Firm provided unique expertise and readiness to help our business to succeed in Hungary. It was a complex matter, which required both in-depth knowledge and a strong business network of professionals (appraisers, developers, bankers) in Hungary. The practice was always there to assist us, was proactive and delivered the best advice our company could have expected.’

‘Levente Bihari provided tailor-made accurate advice, always practical and within deadlines. Being the managing partner of the firm, Pal Jalsovszky was always on the radar and ready to help during the project, which attaches personal touch to any communication with the clients and makes service so unique and valuable.’

Key clients

Voltana Hungary Kft.

VGP Group Hungarian subsidiaries

Atreusz Holding Kft.

Human Centrum

Y.B.L. Lindner

Callis Energetika Zrt.

Duna Pro Kft.

Schrack Kft.

Work highlights

  • Advising Voltana Hungary on the sale of an ongoing residential development project.
  • Advised Atreusz Holdings on a complex contractual structure related to the planned solar plant developments of the client, which will be subject to various restrictions on agricultural land.
  • Advised VGP Park Kecskemét Korlátolt Felelősségű Társaság on the planned placement of solar panels on one of their newly built office buildings for the purposes of covering the electricity demands of the tenant.

KCG Partners Law Firm

The real estate practice at KCG Partners Law Firm focuses on industrial developments and greenfield and brownfield investments. Eszter Kamocsay-Berta is a widely-recognised name in the Hungarian real estate development and construction market. Illustrative of her expertise in large-scale industrial developments, she is advising LEGO on its €354m Nyíregyháza factory project (and €300m extension) in eastern Hungary. Kamocsay-Berta co-heads the practice with Gabriella Gálik, who leads on corporate real estate transactions, and is knowledgeable about zoning and planning, lease negotiations and EPC contracts.

Practice head(s):

Eszter Kamocsay-Berta; Gabriella Gálik

Testimonials

‘Readily available, highly-skilled and business-minded team of lawyers with competitive prices.’

‘Eszter Kamocsay-Berta and Gabriella Gálik delivered exceptional legal services. Having an in-depth knowledge of the industries elevates them over their competitors. They are not only highly experienced but their business acumen is exceptional.’

‘KCG Partners are our go-to law firm in Hungary. They are very professional, very flexible and approachable.’

‘Eszter Kamocsay-Berta is a tireless managing partner of KCG partners with great management skills, and expert transactional knowledge. Very proactive and pleasant to work with.’

‘Gabriella Gálik is an experienced partner in real estate and corporate restructuring, very practical and excellent in communication.’

Key clients

LEGO

FésGM Kft – M20 Project

Deltaplast

Work highlights

  • Advising FésGM Kft, a Hungarian construction company, in the negotiation and preparation of the general contractor agreement for the M20 Project, which is a luxury residential development in the city centre of Budapest.

Lohn Law Firm

Lohn Law Firm has a notable strength in the management of real estate portfolios, where it largely acts for architecture firms, as well as UK, Benelux and Hungarian real estate firms. It is also active in acquisitions and disposals of logistics buildings and offices. Name partner Lohn Balázs is an experienced transactional and real estate dispute counsel.

Practice head(s):

Balázs Lohn

Testimonials

‘Accurate, reliable, knowledgeable, highly skilled lawyers and team with a wide spectrum.’

‘Lohn Law Firm has on several occasions proved their ability to solve the most complex legal problems in a rapidly changing Hungarian legal environment. The lawyers at Lohn Law Firm understand the real estate market (including the construction and the design aspects of it) very well, and provided us with tailor-made legal solutions that have proved very valuable to us. They are always available and respond quickly to our questions.’

‘Balázs Lohn – Result-oriented approach, quick and effective work.’

Key clients

Big4 Hotel Kft.

NYÍRTERV-PLUSZ Kft.

Özyer Group

Work highlights

  • 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 on a hotel development of a building located downtown Budapest. Advising client re long term lease to a leading hotel franchise operator, construction and development financing matters.

Schoenherr Hetényi Ügyvédi Iroda

Schoenherr Hetényi Ügyvédi Iroda is highly active in cross-border transactions, with its team in Budapest being aided by practitioners in the Austrian, Czech, Polish and Romanian offices. The firm handles greenfield investments, leases, asset portfolio management and real estate litigation in the Hungarian courts. László Krüpl leads on all share and asset deal acquisitions and greenfield investments.

Practice head(s):

László Krüpl

Testimonials

‘László Krüpl, real estate partner, is a very diligent lawyer. Reactive and business-oriented. His dedication to the deal is excellent and he leaves no stone unturned.’

‘We were very impressed with Laszlo Krüpl’s dedication, negotiation skills and ability to perform under challenging conditions (tight deadlines, complex structures).’

‘Laszlo Krüpl delivers excellent quality in a short time. He has deep legal knowledge and native German skills. We trust his advice.’

‘Very flexible collaboration. We always had the utmost attention on our project.’

‘The Schoenherr team understand the mechanics of a transaction and can provide very tailor-made and practical legal advice. They know real estate law.’

‘László Krüpl stood out from the advisors with his smartness. He is a tough negotiator and knows the legal and commercial tricks applied in transactional advice. You can win if you have him on board.’

Key clients

ABB

Heidelberger Druckmaschinen AG

Avison Young

Covivio

B&B

List Group

Volta

Hauser

CargoE

Erste Bank der oesterreichischen Sparkassen

Private Client Fiduciary Corporation

MNK Real Estate Fund

Work highlights

  • Advised Covivio on the acquisition of the Hungarian part of a portfolio comprised of eight luxury full-service independent hotels, located in Rome, Nice, Budapest, Prague, Florence and Venice, from Varde Partners.
  • Advised B&B Hotels on the lease back of its first hotel in Hungary and thus assisted B&B Hotels in its market entry.
  • Advising the Private Client Fiduciary Corporation on real estate litigation concerning a valuable residential building in Budapest owned by the client of the company.

Szabó Kelemen & Partners Andersen Attorneys

Szabó Kelemen & Partners Andersen Attorneys' team is led by Tamás Szabó, and includes Domonkos Kiss and Levente Kálmán. It is experienced in property sales and acquisitions, greenfield and mixed-use land development and commercial property litigation. Szabó stands out for his experience of working with properties listed on the National Office of Cultural Heritage (KÖH) and public tender procedures. Kiss focuses on commercial real estate development. Kálmán has a wealth of experience in commercial property acquisitions and development projects.

Practice head(s):

Tamás Szabó

Other key lawyers:

Domonkos Kiss; Levente Kálmán

Key clients

CTP Management Hungary Kft.

MMG Hotels

Office Garden (GRT Group)

Aon

Omega Befektetési Kft. / Casazela Kft.

Work highlights

  • Advising CTP Management, a Hungarian subsidiary on large-scale greenfield investments involving the construction of logistics and manufacturing facilities, and also on the renting and operation of existing logistics facilities.
  • Advised an Israeli property development company on purchase, planning, approval procedure in connection with a residential building to be constructed on the plots.
  • Assisted the Mellow Mood Group with restructuring its financing of 7 hotels (six in Budapest and one in Vienna) by interbank refinancing transaction; representation of the client in a dispute relating to the operation of a Budapest hotel.

Szecskay Attorneys at Law

Szecskay Attorneys at Law specialises in complex real estate investment transactions and development ventures, including greenfield investments. In addition to undertaking mandates involving single-unit assets, it also handles the acquisition and sale of real estate portfolios. Patrick Tausz and Attila Jásdi are the primary contacts.

Practice head(s):

Patrick Tausz; Attila Jásdi

Testimonials

‘Attila Jasdi is a very reliable partner, who is dedicated to solving problems and delivering results on time. His cooperation makes work easy, and after asking the right questions, he takes the task or challenge and comes back with meaningful alternative solutions.’

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.

Claire’s Hungary Kft.

Dunapack Packaging Hungary

Reckitt Benckiser Hungary

Meininger Hotels Hungary

Midas European Properties

Pharmaceutical Research Associates Hungary

Work highlights

  • Advising Burger King (Fusion Investment Company) in relation to property maintenance and commercial leases of sites.

Szécsényi és Társai Ügyvédi Társulás

Szécsényi és Társai Ügyvédi Társulás acts for a wide client base, including Hungarian and international corporates, property developers, management firms and CEE-wide investment funds. Its varied portfolio of work includes high-value real estate investments and disposals, portfolio management and general day-to-day real estate support. Name partner László Szécsényi often works with German and Austrian clients on their investments and acquisitions in Hungary. 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

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

Allee Center Kft.

Work highlights

  • Advising Wing on the sale of a real estate portfolio consisting of three office buildings in Budapest.
  • Advising M7 Real Estate on the acquisition of the Terrapark Office Complex in Budapest.
  • Continuing to advise CBRE/Allianz Real estate on various real estate issues in connection with the Allee Shopping Centre (managed by Multi).

Wolf Theiss Faludi Erős Ügyvédi Iroda

Wolf Theiss Faludi Erős Ügyvédi Iroda‘s team has expertise in real estate investment transactions and development projects, leasing, financing, facility management and real estate litigation. The practice is led by corporate partner János Tóth, with support from senior associate Norbert Bálint. Clients include real estate developers, management companies, commercial property and parking operators. The group advises on issues such as electricity supply and private network usage in large industrial parks, shopping malls and office buildings, as well as on novel payment structures and installation and operation of Electric Vehicle charging points in Hungary.

Practice head(s):

János Tóth

Other key lawyers:

Norbert Bálint

Key clients

RECOM AG

Enlight Renewable Energy Ltd.

Work highlights

  • Advising RECOM on the acquisition of a 75 MW solar renewable energy investment project in Hungary. The mandate requires special emphasis to be put on the agricultural landscape and other environmental questions, and on managing the third-party easement rights in order to connect the project to the grid.

Nagy és Trócsányi Ügyvédi Iroda

Nagy és Trócsányi Ügyvédi Iroda is particularly active in sales and purchases of retail units and office buildings, as well as commercial lease work. The practice also advises foreign investors on greenfield developments in Hungary and represents clients in real estate litigation. Managing partner Peter Berethalmi is the lead figure.

Practice head(s):

Péter Berethalmi

Réti, Várszegi and Partners PwC Legal

Réti, Várszegi and Partners PwC Legal advises clients on acquisitions and sales, property financing and refinancing, lease agreements and portfolio management. On the contentious side, real estate litigation is another cornerstone of the practice. László Réti and László Szűcs are the names to note.

Practice head(s):

László Réti; László Szűcs

Key clients

ROSSMANN Magyarország Kereskedelmi Kft.

Ilka Corner 1 Kft.

Flovestor Passage Kft.

BKV Zrt.

Work highlights

  • Advising ROSSMANN Magyarország Kereskedelmi Kft on various issues involving its 200 commercial units, including real estate transactions, lease agreements, legal disputes, public law restrictions and further administrative proceedings.
  • Advised Ilka Corner 1 on the legal due diligence and the acquisition of Optima A Office Building in Budapest.

Sándor Szegedi Szent-Ivány Komáromi Eversheds Sutherland

Sándor Szegedi Szent-Ivány Komáromi Eversheds Sutherland's real estate practice is prominent in matters connected with the automotive, hotel, retail and industrial sectors. It advises clients on the sale and purchase of assets, planning and zoning of commercial and agricultural land and commercial lease agreements. In addition, in the construction arena, the group also assists with drafting and preparation of general construction and contractors agreements. Richárd Eördögh is involved in various transactions and developments in Central and Eastern Europe. Péter Sándor is another key individual.

Practice head(s):

Richárd Eördögh; Péter Sándor

Testimonials

‘I have worked with Péter Sándor and Richárd Eördögh on a transaction and developed a very good level of cooperation. The service was above a good standard, tasks delivered on time, professional approach and good communication throughout.’

Key clients

Autoliv

ABACUS MEDICINE HUNGARY Kft.

Oxygen Resort GmbH

Chesterton

Josab Hungary

MTD

Pappas

Somfy

Orange

Xylem Water System Hungary

J. C. Neckermann

Toyota

Yves Rocher

Sportsdirect

Work highlights

  • Advising MTD on the sale of its real property to KNAPP Hungary for the overall purchase price of €12m.
  • Advising ABACUS MEDICINE HUNGARY in a real estate transaction project including a plot formation procedure as well as the establishment several easement rights.
  • Advising Oxygen Resort GmbH, a member of the Cartour Group, on a €1.5m real estate acquisition regarding the acquisition of a hotel and restaurant in Austria.

Vámosi-Nagy Ernst & Young Law Office

Vámosi-Nagy Ernst & Young Law Office undertakes a mix of buyer-side and seller-side work in relation to real estate sales and acquisitions, often working together with its corporate and taxation experts. Szabolcs Posta acts for private equity and investment funds on their real estate development investments and acquisitions in Hungary.

Practice head(s):

Szabolcs Posta

Key clients

TK Elevator Eastern Europe GmbH

Enchem Hungary

Axel Johnson International AG

Samyang Biopharm

Lotte Aluminium

BKK Budapesti Közlekedési Központ

International Investment Bank

Work highlights

  • Advised Enchem on a greenfield investment by acquisition of a major industrial site in Northern Hungary. Drafted and negotiated the acquisition documents regarding land and factory building as well as the ancillary agreements.
  • Assisted TK Elevator Eastern Europe GmbH with drafting its commercial lease agreement for a shared service centre in Hungary.
  • Advising BKK as lessee on extending its existing office lease.