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CHSH and Jalsovszky Advise on Sale of Duna Center Shopping Center in Gyor

CHSH and Jalsovszky Advise on Sale of Duna Center Shopping Center in Gyor

Hungary
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CHSH has advised Vienna-based real estate investor CA Immo on the sale of the special purpose vehicle that owns the Duna Center shopping mall in Gyor, Hungary, to Indotek. The Jalsovszky Law Firm advised the buyers on the deal.

The mall has a gross lettable area of approximately 16,000 square meters, and the acquisition closed at the end of 2018. As a result of the transaction, Indotek further extended its retail portfolio of countryside shopping centers in Hungary. At the same time, CHSH reports, "CA Immo sold its last commercial real estate in Hungary, leaving the retails market behind in order to further concentrate on the office segment."

"We managed to sell this commercial real estate in a favorable market environment in the wake of local portfolio streamlining," said Ede Gulyas, Managing Director of CA Immo Hungary. "In the future we aim to focus on A-category office investments which are still very promising in the CEE region.”

The CHSH team was led by Partner Wilhelm Stettner, who heads the firm's Budapest real estate team, and it included Associate Ivett Szauftman.

The Jalsovszky team was led by Senior Attorney Peter Gyimesi, working with Levente Bihari and Gabor Kerekes.

Hungary Knowledge Partner

DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, helping clients with their legal needs around the world. We strive to be the leading global full-service law firm by delivering quality and value to our clients. With practical and innovative legal solutions, we help our clients succeed.

In Central and Eastern Europe (CEE), DLA Piper continues to grow and now employs more than 320 lawyers, including 46 partners across its six offices in Austria, the Czech Republic, Hungary, Poland, Romania and Slovakia. With our global set-up and established relationship firms across all other CEE jurisdictions, we are among the largest and most experienced international law firms in the region. Through our experience gained advising on a variety of high-profile projects and the long-term relationships we have established with our clients, we have built a reputation as a leading business law firm across CEE.

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