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Dentons advises Globe Trade Centre S.A. in acquisition of Duna Tower in Budapest

26 Nov 2015

Dentons has advised leading Warsaw-headquartered CEE commercial real estate company Globe Trade Centre S.A. (GTC) in its 100% acquisition of Duna Tower, an iconic office building in Budapest’s Váci Corridor. Duna Tower is a 16-floor twin-tower Class A office building on the Pest side of Árpád Bridge, with a total GLA of 31,500 sq. m.

"We are very proud to have had the opportunity to support GTC in this high-value transaction," commented Judit Kővári, head of Dentons' Budapest Real Estate group. "This deal demonstrates the continuing potential for cross-border real estate transactions in the current CEE/SEE environment. It also pairs an active and dynamic acquirer with a value-accretive asset which can be further enhanced as part of the new ownership’s growth strategy."

Robert Snow, the CEO of GTC Hungary said: "The team at Dentons delivered a high quality and full service legal solution to assist us on this important addition to our portfolio, and we were delighted with our partnership with them."

The Dentons team in Budapest was led by Partner Judit Kővári, supported by Of Counsel Marcell Szőnyi, Associate Anna Gerendás and Trainee Associate Zsófia Lascsik.

News Category
Real Estate & Construction