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Schoenherr, CMS, and Noerr Advise on Ullo Logistic Center Agreements Between OTP REIF, Rossmann, and Panattoni

Schoenherr, CMS, and Noerr Advise on Ullo Logistic Center Agreements Between OTP REIF, Rossmann, and Panattoni

Hungary
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Schoenherr has advised the OTP Real Estate Investment Fund on its purchase of a land plot in Ullo, Hungary, from Rossmann, the development agreement for a BTS logistic center on the site with development manager Panattoni, and a long-term lease agreement for the facility with Rossmann as tenant. CMS and Noerr advised Panattoni. PwC Legal reportedly advised Rossmann.

According to Schoenherr, "this deal marks one of the largest BTS agreements in the domestic logistics market in 2023. The newly developed, tailor-made 32,000-square-meter logistics center will serve Rossmann's retail network with state-of-the-art, semi-automated warehousing and stock management solutions." 

The OTP Real Estate Fund is an open-end fund that invests primarily in Hungarian real estate.

Headquartered in Germany, Rossmann is a drugstore chain operating in Europe and employs around 56,000 people.

Panattoni is a real estate developer specializing in industrial real estate and warehouses.

The Schoenherr team included Partners Laszlo Krupl and Gergely Szaloki and Associate Viktoria Magyar.

The CMS team included Partner Gabor Czike and Senior Associate Laszlo Jokay.

The Noerr team included Partner Zoltan Nadasdy and Senior Associate Eszter Hegedus.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

Firm's website.