CHSH has advised a joint venture consisting of CA Immo and Union Investment (with CA Immo holding 51% of the shares) on the sale of the logistics park Europolis M1 Budapest to the Prologis Group that has operations worldwide. In addition to receiving advice from CHSH, the joint venture was also advised by real estate consultancy Colliers.
The logistics park Europolis M1 Budapest comprises an area of approximately 160,000 m2, with approximately 69,000 m2 of rentable space.
"We're pleased that CA Immo and Union Investment once again placed their trust in our CEE expertise", Mark Krenn, who heads up the CEE Real Estate & Construction Practice Group at CHSH. "Consequently, we're continuing our successful growth in the region", Mark Krenn continues.
"We've been only too happy to support CA Immo in its efforts to streamline its Hungarian portfolio", explains Wilhelm Stettner. "Closing proved particularly uncomplicated due to the equity-based financing on the buyer's side and the transaction team's high level of professionalism."
The team at CHSH consisted of partner Mark Krenn (Vienna), partner Wilhelm Stettner (Budapest) and attorney Dr. György Molnár (Budapest).
Prologis has operations worldwide and is headquartered in the USA. Specialising in industrial properties, Prologis currently has approximately 54.8 million m² of state-of-the-art logistics space.