Budapest—Dentons has advised leading CEE commercial real estate company Globe Trade Centre S.A. (GTC) on its 100% acquisition of a real property located on Váci út 85 adjacent to GTC Hungary’s Center Point Office Buildings.

The newly acquired property is located in the Váci Corridor, one of Budapest’s largest and fastest growing office locations, on which GTC will start the development of Center Point 3 office building soon offering an additional approximately 35,000 sq. m. of gross leasable area of office and commercial space to the already existing space of the Center Point Office Building. With this acquisition, GTC reinforces its position as the leading developer in the Budapest property market.

“We are proud to have had the opportunity to support our long-term client GTC in this transaction,” said partner Judit Kővári, head of Dentons’ Budapest Real Estate group, who led the Firm’s deal team. “Our sustained work for one of the leading real estate players in the region is a strong endorsement of our trusted advisor status in this sector.” 

Robert Snow, CEO of GTC Hungary said: "Dentons delivered a high quality and full service legal solution to assist us on this transaction, and we value their capabilities and experience.” 

The Dentons team which advised on the deal was led by partner Judit Kővári, with support from associates Boglárka Zsófia Joó and Rita Várnagy, as well trainee associate Zsófia Lascsik.

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