December 2022 – Kinstellar is delighted to announce that it has once again successfully advised S Immo AG, a leading Vienna-listed real estate investor and developer, on the acquisition of six office properties in Budapest, from Immofinanz AG.
The acquisition includes the following six buildings comprising around 124,000 m² of main usable space: Thirteen Globe, Thirteen Xenter, Greenpoint 7, Atrium Park, Haller Gardens and Szepvölgyi Business Park. Most of the properties are located in the strong office submarkets "Vaci Corridor" and "Central Pest". The purchase price is based on the valuation of the property portfolio carried out by an external expert with a value of EUR 244.1 million as of 22 December 2022.
The acquisition strengthens S IMMO’s portfolio on the attractive Budapest office market in line with its strategy.
The Kinstellar team was led by Barnabás Sági (Managing Associate), Co-head of the Hungarian Real Estate team, supported by Bertalan Ványa (Associate). The team also included Dalma Ördögh (Of-Counsel), Anna Szilágyi (Junior Associate) and Kálmán Varga (Junior Associate).