Dentons has advised GLL Real Estate Partners, a Munich-based international real estate investor and asset manager, on the acquisition of Váci 1, a landmark retail and office building in downtown Budapest for a separate account mandate from Bayerische Versorgungskammer. Horizon Development, a Hungarian real estate development, property management, leasing and marketing company, sold a 100% ownership stake in the Váci 1 building.
Váci 1 is a prestigious mixed-use commercial building with UNESCO World Heritage status, at the head of Budapest’s famous Váci utca, offering a 13,750m² leasable area.
Premium existing lessors include the H&M Budapest flagship store - occupying 3 complete floors of the Váci 1 building, Hard Rock Café Budapest, Szamos Gourmet Palace, DVM group, and Play’n GO.
