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Kinstellar advises Gránit Asset Management on landmark acquisition of 8 retail parks and 4 standalone stores in Hungary
Kinstellar has successfully advised Gránit Asset Management on the acquisition of a high-value retail portfolio comprising 8 retail parks and 4 standalone stores across Hungary from Revetas Capital, an international real estate investment company. The portfolio includes eight retail parks and four single-tenant retail properties located in major regional cities, including Sopron, Mosonmagyaróvár, Miskolc, Debrecen, Zalaegerszeg, Siófok, Dunaújváros, Nagykanizsa, Marcali, Tolna, Szekszárd and Szentlőrinc. The assets comprise approximately 45,000 sqm of gross leasable area and are nearly fully leased to a strong tenant mix including C&A, Deichmann, Intersport, Libri, McDonald’s, and Müller. Gránit Asset
Kinstellar advises Habitex on the sale of the former textile factory in Baia Mare to Jumbo
Kinstellar has advised Habitex on the sale of the former textile factory site located in Baia Mare to Jumbo, one of the leading international retail chains in the region. The transaction is part of Jumbo’s ongoing expansion in Romania. The transaction was signed at the end of 2025. The redevelopment of the site is expected to contribute to the revitalisation of the area and enhance the local commercial infrastructure. Kinstellar provided legal assistance to Habitex throughout the transaction, including structuring, negotiation and signing of the transaction documents. Kinstellar’s team advising on the transaction was led by Iunia Nagy (Managing Associate), supported by Malina Andries (Associate).
Kinstellar welcomes Miloš Gledović as Of Counsel for Energy & Real Estate in Belgrade
Kinstellar is pleased to announce that Miloš Gledović has rejoined our Belgrade office as Of Counsel, strengthening our capabilities in the Energy and Real Estate sectors. With more than 15 years of cross-border experience, Miloš advises on sophisticated energy and real estate matters, with a focus on project finance and construction. His work also includes corporate and tax structuring in the context of complex international transactions, supporting financial institutions, project developers, PE investors, and other industry professionals. In addition, Miloš brings valuable experience from the commercial real estate sector and expanded tax expertise, enabling him to deliver practical, business‑oriented
Kinstellar advises Logicor on strategic acquisition in Budaörs
Kinstellar has advised the Hungarian subsidiary of Logicor, one of Europe’s leading owners, operators, and developers of logistics real estate, in connection with the acquisition of a strategically located logistics property in Budaörs, Hungary. The newly acquired asset comprises approximately 28,000 sqm of warehouse and office space. The property lies within the M0 ring road, just 12 kilometres from Budapest’s city centre and directly adjacent to Logicor’s existing Camel, Shark, and Pharma parks. Together, the four neighbouring parks form a contiguous logistics hub of nearly 100,000 sqm in a prime, well-connected location. Kinstellar’s mandate covered comprehensive legal due diligence and the preparation
Kinstellar advises Wizz Air on the acquisition of its headquarters in Budapest
Kinstellar has advised Wizz Air on the acquisition of Millennium Tower I, the office building that serves as the airline’s headquarters in Budapest, from CA Immo. The transaction represents a significant strategic milestone for Wizz Air, securing long-term ownership of the premises that serve as its headquarters. Kinstellar has supported Wizz Air throughout the entire lifecycle of its presence in the building, having previously advised on the original lease of the office space and now on its strategic acquisition. Kinstellar’s mandate covered the full scope of the transaction, including comprehensive legal due diligence, as well as the negotiation and preparation of the acquisition documentation, ensuring
Kinstellar advises Garbe Industrial on strategic entry into the Romanian market supported by a partnership with Fortress Real Estate Investments Limited
Febuary 2026 – Kinstellar has advised GARBE Industrial, one of Germany’s leading logistics and industrial real estate investors, on its strategic entry into the Romanian market through a completed acquisition, as part of a broader joint venture investment structure together with Fortress Real Estate Investments Limited, a South African investment fund. This is Garbe’s first project in Romania. The transaction supports Garbe Industrial’s long-term expansion in Romania and underpins the development of a new Class A logistics park planned in the north-west of Bucharest, in close proximity to the A0 ring road. The project is expected to deliver approximately 61,000 sqm GLA on an 11-hectare site, designed to serve both mid-sized and
Kinstellar advises Cresco on the acquisition of a major residential development project in Prague’s Žižkov district
Kinstellar has successfully advised Cresco on the acquisition of a residential development project in Prague from Finep. The site, located in the former freight railway station area in Žižkov, is set to host over 1,000 new residential units. The transaction was carried out in partnership with WOOD & Company, marking a significant step in the ongoing transformation of the brownfield site into a vibrant urban neighbourhood. Kinstellar provided comprehensive legal support to Cresco throughout the acquisition process, including legal due diligence, transaction structuring, financing matters, and negotiation support. The acquisition forms part of Cresco’s broader strategy to expand its presence in the Czech
Land ownership and leasing rights for foreign investors in Ukraine
Investing in Ukraine’s real estate and land assets requires an understanding of the legal framework governing land ownership and leasing. Land ownership titles Ukrainian citizens and companies: (companies registered in Ukraine) can acquire most types of land, including agricultural, residential, commercial, and industrial land. Foreign individuals and companies: » Cannot own agricultural land. The Ukrainian Parliament is considering laws to potentially enable controlled access to agricultural land for foreign investors under specific conditions. But presently ownership of agricultural land by foreigners remains prohibited. » Can own non-agricultural land (commercial, residential
Land consolidation as a form of “minor” expropriation in the Czech Republic
Land consolidation means a new arrangement of land parcels within a certain area. As a result, even without the owner’s consent, it may lead to changes in parcel boundaries, replacement by another parcel, subdivision or, conversely, consolidation of parcels; the original parcels may cease to exist, and new parcels may be created. In substance, land consolidation therefore constitutes a certain type of expropriation. Unlike standard expropriation, however, the owner does not receive monetary compensation but another parcel of land, the value of which should be comparable when statutory criteria are applied. Similar to standard expropriation, land consolidation may be carried out only in the public interest (e.g., reducing
Kinstellar advises TSH Investment on the acquisition and redevelopment of Mall Plovdiv
Kinstellar has successfully advised TSH Investment, the joint venture between the real estate investment companies Trinity Capital and HUS Invest, on the acquisition of Mall Plovdiv, the first modern shopping and entertainment centre in Plovdiv, Bulgaria. The transaction includes the divestment of the existing asset and the planned construction of a new, purpose-built facility on the underlying land plot, aligned with TSH’s long-term business objectives. Kinstellar played a key role in designing the legal structure of the transaction to accommodate the sale while securing future development rights. The project reflects a shift in the use and value optimisation of a major commercial property. The team was
Kinstellar advises Mitiska REIM on EUR 22.2 million sale of Retail Park Strakonická to Fio Real Estate Fund
Kinstellar has successfully advised Mitiska REIM, the specialist investor in European convenience real estate, on the sale of Retail Park Strakonická in České Budějovice to Fio Real Estate Fund for EUR 22.2 million. The transaction marks the completion of a value-add redevelopment project originally acquired in December 2022 on behalf of the FRI 2 fund in partnership with Asset Services. We were very pleased to be able to assist our client during the full life-cycle of the investment, starting from the acquisition through development and leasing and ending with successful disposal.Klára Štěpánková, Partner at Kinstellar Czech Republic Kinstellar advised Mitiska REIM alongside CBRE and
Kinstellar advises P3 on acquisition of logistics parks in Slovakia
Kinstellar has successfully advised P3, a prominent pan-European logistics property investor and developer, on the acquisition of a portfolio of logistics parks located across multiple locations in Slovakia. The transaction marks a significant expansion of P3’s footprint in the Slovak logistics market. The seller was Stoneweg Europe Stapled Trust, a Singapore-listed real estate investment trust (REIT), which recently announced its strategic exit from Slovakia through a divestment as part of its broader portfolio rebalancing strategy in Europe. The deal was structured as a share deal, ensuring an efficient transfer of ownership. Kinstellar provided comprehensive legal advisory services, including full-scope due