Dentons has advised German asset manager KGAL Investment Management GmbH on its EU60 million acquisition of the Kalvin Square and City Zen office buildings, totaling 26,000 sqm, in downtown Budapest, from Europa Capital.

KGAL invests in and manages properties on behalf of institutional investors. The Kalvin Square Office Building is a prominent "A" category office complex on one of the busiest traffic hubs in Budapest, surrounded by amenities. The CityZen Office Building is also "A" category, freshly renovated and BREEAM certified for its high environmental standards.

Judit Kovari, Head of Dentons' Real Estate group in Budapest, commented, "Our rapid execution against tight deadlines enables our clients to secure prominent trophy assets. This is just one of the many ways that we are creating value for investors in the Hungarian real estate market."

The Dentons team on the deal was led by Partner Judit Kovari, and consisted of Partner Marcell Szonyi, Associates Boglarka Zsofia Joo, Judit Sos and Eszter Fodor and Trainee Associates Zsofia Lascsik and Kinga Negyesi.