CERHA HEMPEL comprehensively advised CA Immobilien Anlagen AG (CA Immo) on the successful sale of the IP West office building in Budapest to BYD. This transaction represents one of the most significant acquisitions by an international corporation in Budapest’s office real estate market during 2024/2025, highlighting the renewed interest in high-quality office properties in Budapest.
The IP West office building offers approximately 32,100 m² of lettable office space and around 800 parking spaces. Located in the 11th district of Budapest, west of the Danube between the Petőfi and Rákóczi bridges, the property enjoys excellent connectivity to public transportation and optimal infrastructure in a highly sought-after area. It will serve as the European headquarters for the Chinese automobile manufacturer BYD.
Dr. Ingo Steinwender, Head of Group Legal Affairs at CA Immo: “The legal support from CERHA HEMPEL was essential for efficiently and professionally handling this complex transaction.”
Wilhelm Stettner, Partner at CERHA HEMPEL Budapest (lead counsel): “It was a pleasure to comprehensively advise and support CA Immo throughout this challenging transaction.”
Mark Krenn, Head of the CEE Real Estate Practice Group at CERHA HEMPEL: "This transaction underscores our strong presence and expertise in cross-border real estate transactions throughout Central and Eastern Europe."