CHSH has advised CA Immo on the sale of the office complex Buda Business Center in Budapest, Hungary, to an open-ended fund managed by Diófa Fund Management under the terms of an asset deal.
The Buda Business Center, which occupies a good central location in the second district of Budapest, has approximately 6,400 m² of office space.
"We're pleased to have advised CA Immo in connection with this transaction. In doing so, we're underscoring the cross-border expertise of our real estate practice", Mark Krenn, who heads up the CEE Real Estate & Construction Practice Group at CHSH.
"The extremely short time frame was a particular challenge that we were able to successfully overcome for our client", Wilhelm Stettner, Managing Partner at CHSH Hungary. "The sale is a further indication that the Hungarian real estate market is recovering. The number of transactions has constantly been increasing since 2013."
The team at CHSH consisted of partner Mark Krenn (Vienna), partner Wilhelm Stettner (Budapest) and attorney Dr. György Molnár (Budapest).