CERHA HEMPEL is pleased to have advised CA Immo on the successful sale of the Víziváros Business Center in Budapest. Located in the "Central Buda" office district in the west of Budapest, the Víziváros Office Center has a total lettable area of around 14,200 sqm and was 96% let as at 31 December 2022. The buyer is the FLE SICAV FIS real estate fund managed by FLE GmbH.
The team at CERHA HEMPEL was led by Wilhelm Stettner, Managing Partner of the Hungarian office. Wilhelm Stettner and Mark Krenn are jointly responsible for the CEE Real Estate Practice at CERHA HEMPEL.
Wilhelm Stettner (Partner at CERHA HEMPEL in Hungary): "We're proud to have assisted CA Immo on this important transaction. Thanks to the excellent cooperation of all parties involved, we were able to ensure the transaction was executed smoothly and efficiently."
Mark Krenn, partner at CERHA HEMPEL in Vienna, emphasised the strategic importance of CERHA HEMPEL's advice to CA Immo: "This transaction once again underscores our expertise in the CEE region and our commitment to providing first-class legal advice to our clients. We're pleased to have been able to assist CA Immo in making this strategically important decision."
Albin Wimmer, Deputy Head of Legal AT+CEE at CA Immo, praised the extremely high-quality advice provided by CERHA HEMPEL: "We're very satisfied with the professional and high-quality advice and efficient cooperation provided by CERHA HEMPEL throughout the process – as in previous joint transactions in Hungary." Christoph Buchgraber, Transaction Manager at CA Immo, emphasises the importance of the divestment in the context of CA Immo's portfolio strategy: "The successful completion of this transaction is an important step in continuing our capital rotation programme and it contributes to focusing our existing portfolio on high-quality, modern office properties in the core markets. CERHA HEMPEL's expertise has been instrumental to the success of this transaction."
This successful transaction confirms CERHA HEMPEL's position as one of the leading legal advisors in the CEE region and underlines the firm's commitment to supporting its clients during complex and strategically important real estate transactions.
Specialising in modern and spacious office properties, CA Immo’s core business involves investing in, managing and developing real estate in the metropolitan regions of Germany, Austria and Central Europe. The company covers the entire value chain in the field of commercial real estate, based on a high degree of in-house construction expertise. Founded in 1987, CA Immo is listed on the ATX index of the Vienna Stock Exchange and controls property assets of approximately EUR 5.9 billion in Germany, Austria and CEE.