Dentons advises KGAL on acquisition of Kálvin Square, CityZen

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Dentons has advised German asset manager KGAL Investment Management GmbH on its EUR 60 million acquisition of the Kálvin Square and CityZen office buildings in downtown Budapest from Europa Capital, according to a press release the law firm sent to the Budapest Business Journal. 

The CityZen Office Building.

KGAL invests in and manages properties on behalf of institutional investors. The Kálvin Square Office Building is a prominent “A” category office complex on one of the busiest traffic hubs in Budapest. The CityZen Office Building is also rated as “A” class, freshly renovated and BREEAM-certified for its high environmental standards. Together, the properties total 26,000 square meters, the press release says.

“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,” claimed Judit Kővári, partner and head of Dentons’ real estate group in Budapest.

The Dentons team on the deal was led by Kővári, and consisted of partner Marcell Szőnyi, associates Boglárka Zsófia Joó, Judit Sós, and Eszter Fodor, and trainee associates Zsófia Lascsik and Kinga Négyesi.  

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