January 2019

CHSH advised CA Immo on the sale of the shopping center Duna Center in Hungary

CHSH advised CA Immo, the Vienna-based real estate investor on the sale of a shopping mall named Duna Center. The facility is located in Győr, Hungary and has a gross lettable area of approx. 16 000 sqm.

The acquisition was closed at the end of 2018. Through the completion of the transaction, Indotek further extended its retail portfolio, consisting of various countryside shopping centres in Hungary, whereas 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 favourable market environment in the wake of local portfolio streamlining. In the future we aim to focus on A-category office investments which are still very promising in the CEE region.”- said Ede Gulyás, managing director of CA Immo Hungary.

It makes us very proud that CA Immo again turned to CHSH for this demanding transaction. This underlines the outstanding quality of our real estate team in Hungary, led by Wilhelm Stettner”- said Mark Krenn, Head of CHSH's CEE Real Estate Practice.

We are pleased that we had the opportunity to work together again with Wilhelm Stettner, head of the real estate team at CHSH Budapest, and his colleague, Ivett Szauftman. They were extraordinarily supportive and flexible throughout the whole deal which facilitated the closing of the transaction before the year-end. As usual, Mr. Stettner’s business-friendly approach and ability to find the most feasible solutions for sophisticated problems helped us overcome all obstacles. We are looking forward to working together with this highly qualified team during our next transactions as well.” – added CA Immo’s transaction manager, Mag. Christoph Buchgraber.

The Buyer was advised by Jalsovszky Law Firm.