Dentons advises GTC in Duna Tower acquisition
The Hungarian unit of Warsaw-headquartered CEE commercial real estate company Globe Trade Centre S.A. (GTC) has been advised by the Hungarian team of Dentons in acquiring 100% of Duna Tower, a key office building in Budapest’s Váci Corridor, according to an announcement issued today.
“This deal demonstrates the continued potential for cross-border real estate transactions in the current CEE/SEE environment,” said Judit Kővári, head of Dentons’ Budapest Real Estate group. “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,” Kővári added.
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 counsel Marcell Szőnyi and associates Anna Gerendás and Zsófia Lascsik.
Duna Tower is a 16-floor twin-tower Class A office building on the Pest side of the Árpád Bridge, with a total GLA of 31,500 sqm.
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