Dentons advises NEPI Rockcastle on Mammut deal
Law firm Dentons advised South African-listed real estate investor and developer NEPI Rockcastle on the acquisition of 100% of Mammut 2 and 81% of Mammut 1, which jointly comprise the Mammut shopping mall in Budapest, for EUR 254 million.
(Photo by vidalgo/Shutterstock.com)
Following the Mammut announcement last Thursday, NEPI Rockcastle is now in possession of two major plazas in Budapest, with the company having acquired the Aréna Pláza last year. The investment comes as part of NEPIʼs plans to enhance its shopping mall portfolio in the CEE region.
Located adjacent to Széll Kálmán tér, on the Metro M2 line, Mammut is Budaʼs biggest shopping and entertainment center. In its two buildings, Mammut offers a total gross leasable area of 61,300 square meters. Mammut 1 and Mammut 2 are connected by a double-level pedestrian bridge.
"We were very pleased to support our client on this significant transaction," commented Judit Kővári, head of Dentons’ Real Estate group in Budapest. "This deal is a major real estate transaction for the Hungarian market and is a great example of Dentons’ ability to advise international players on their real estate projects in Hungary."
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