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Deals March 2024

Kinstellar advises S IMMO AG on the sale of Zagrebtower

Kinstellar has successfully advised S IMMO AG on the sale of Zagrebtower office building to the OTP Group. The transaction is expected to close in the third quarter of 2024, subject to the necessary regulatory approvals. Kinstellar advised S IMMO AG throughout the process including on structuring of the transaction, due diligence, and transaction negotiations. Located in the heart of the Croatian capital, the class A office building encompasses a total net area of almost 26,000 m² and has a BREEAM International In-Use Excellent certificate. Zagrebtower consists of a 22-storey, 79 metre office tower with a connected nine-storey low-rise building. The tenants include the Croatian Ministry of Economy and

Deals March 2024

Kinstellar advises IMMOFINANZ on the sale of Grand Center Zagreb

Kinstellar has successfully advised IMMOFINANZ on the sale of the Grand Center Zagreb office building to a Croatian real estate investment company. Kinstellar advised IMMOFINANZ throughout the process including on structuring of the sale process, structuring of the transaction, due diligence, and transaction negotiations. Located in the heart of the Croatian capital, Grand Center Zagreb stands as a modern, high-quality office building with a distinctive architectural design. With approximately 16,000 sqm of exclusive office space, the property also provides tenants with access to local amenities, including a variety of bars and restaurants. Kinstellar’s team was led by Andrijana Kaštelan, Counsel, and

News March 2024

Kinstellar announces new promotions to Counsel

February 2024 – Kinstellar is delighted to announce the promotions to Counsel of: Yerlan Akhmetov, Kuanysh Shekerbekov (Almaty, Kazakhstan), Cătălin Dinu, Cătălin Graure (Bucharest, Romania), Barnabás Sági (Budapest, Hungary), Yulia Eismont, Maksym Tesliar (Kyiv, Ukraine), Michal Forýtek (Prague, Czech Republic),  Andrijana Kaštelan, Vedran Kopilović, Marija Vuchetich (Zagreb, Croatia). ALMATY Yerlan Akhmetov focuses on banking and finance, M&A and capital markets matters. Having been with the Firm for nine years, Yerlan has earned a reputation for cultivating strong client relationships, demonstrating leadership qualities and making significant contributions to our firm's success. He has played a key role

News February 2024

Kinstellar strengthens its team in Kazakhstan with the appointment of Ardak Idayatova as Partner

Kinstellar is delighted to announce that Ardak Idayatova has joined the firm’s Almaty office as Partner. Ardak Idayatova is an experienced practitioner with a career spanning 20 years. She focuses primarily on commercial arbitration (especially construction arbitration) and litigation, as well as on public-private partnerships and real estate. Ardak’s expertise includes providing comprehensive support to major infrastructure projects, primarily representing foreign investors, international development banks and foreign contractors. Additionally, she represents and provides legal assistance to clients in foreign commercial arbitrations, mainly in connection with construction disputes arising out of different

Insights January 2024

New legislation in the real estate sector in Hungary

With the adoption in 2023 of Act C on Hungarian Architecture (the "New Legislation"), Hungary’s parliament amended several laws affecting the real estate sector, some of which entered into force on 30 December 2023. At the same time, the New Legislation repeals certain laws, or provisions thereof, including Act LIII on the Acceleration and Simplification of the Implementation of Investments of Special Importance to the National Economy (2006) (the “Previous Legislation”). Among the new changes, special attention should be given to the rules on prioritised investment projects. Below we provide a brief overview of several important provisions. A construction works project and administrative matters relating

Deals December 2023

Kinstellar advises S IMMO AG on the sale of Eurocenter office building in Zagreb, Croatia

Kinstellar has successfully advised S IMMO AG, a real estate investment company, on the sale of Eurocenter, one of its office buildings in Zagreb, to Atlantic Grupa d.d.  The transaction, which was carried out by way of a share deal, has an asset value of EUR 26.5 million. Eurocenter has been part of S IMMO AG’s commercial property portfolio since 2008. The centrally located, six-storey modern building features around 9,000 sqm and counts IBM, Atlantic Grupa, EBRD, and the Polish, Irish and Finnish embassies among its tenants. The Kinstellar team was led by Andrijana Kaštelan, Managing Associate, and included Duško Žurić, Partner, Senior Associates Tena Pajalić and Matea Sekur, as well as Kristina Marinov

News November 2023

New senior hires boost Kinstellar Bucharest’s already market-leading real estate practice

Kinstellar is delighted to announce further hires: the additions of Corina Stanciu (Senior Associate) and Cristiana Mic-Soare (Special Counsel) to the Bucharest office’s real estate service line, thus even further strengthening the firm’s market-leading expertise in real estate and related sectors. Corina Stanciu joined the team as a Senior Associate. She has years of experience: she has assisted real estate investors and developers on real estate transactions, project development and construction permitting, covering the full range of business sectors: commercial / retail, office, industrial, logistics, residential, agriculture, renewable energy. She advised on day-to-day real estate, construction, regulatory

Deals September 2023

Kinstellar advises a significant global player on the lease of its headquarters in Hungary

Kinstellar’s team in Hungary has successfully advised a Hungarian company with a global presence in connection with the preparation and negotiation of a lease agreement for its new office headquarters. The deal is one of the largest transactions of its kind on the Hungarian real estate market.  The Budapest office advised on various legal aspects throughout the transaction, the subject of which is the lease of more than 8,000 sqm in a Class A office building in Budapest. Kinstellar’s team was led by Partner Annamária Csenterics (Co-Head of the Hungarian Corporate/M&A service) and Of Counsel Mónika Frank (Co-Head of the Hungarian Real Estate service) and supported by Junior Associate Judit Sós.

Deals September 2023

Kinstellar advises Electrolux Group on the successful divestment of its Nyíregyháza factory in Hungary to Qvantum

Kinstellar is proud to announce that it has advised the Swedish appliances manufacturer Electrolux Group on the successful sale of its manufacturing facility in Nyíregyháza, Hungary, to the Swedish high-quality electric heat pumps manufacturer Qvantum for a cash consideration of EUR 38 million. The Kinstellar team was led by Barnabás Sági, Co-Head of the Budapest Real Estate service line, supported by Bertalan Ványa, Associate. The team also included Annamária Csenterics (Partner), Anna Szilágyi (Junior Associate), Judit Sós (Associate), Péter Vörös (Partner), Péter Gullai (Managing Associate), Dániel Péter (Managing Associate), and Szabolcs Szilágyi (Junior Associate).

News May 2023

Kinstellar strengthens its team in Turkey with the appointment of Ömer Erdoğan as Partner

Kinstellar is delighted to announce that Ömer Erdoğan has joined the firm’s Istanbul office as Partner. His joining reinforces our team’s capabilities in Turkey—particularly our expertise in the real estate, infrastructure and energy sectors as well as project finance. Ömer has 18 years of experience advising multinational and local companies on their investments in Turkey and abroad. His banking and finance expertise covers a wide range of transactions in Turkey. He has led teams acting for both lenders and sponsors on trade finance, project and acquisition financings, banking regulatory, security documentation, and secured loans and syndications. Ömer’s broad experience also covers the energy

News May 2023

Kinstellar announces new promotions to Partner and Counsel

Kinstellar is delighted and proud to announce the promotions to Partner of Tomáš Melišek (Bratislava), Levente Hegedűs (Budapest), Bulut Girgin (Istanbul), Anastasiya Bolkhovitinova, Natalia Kirichenko, Oleg Matiusha, Illya Muchnyk (all in our Kyiv office), and to Counsel of Dominika Bajzáthová (Bratislava). PARTNERS Tomá š Melišek, Bratislava Tomáš is the Head of the local Banking & Finance service line. He has 15 years of experience in banking and finance, focusing on project and acquisition financing as well as on financial regulations. Tomáš has substantial experience advising clients on significant financing transactions in the areas of real estate, energy, infrastructure, automotive, media

Insights April 2023

Czech Senate to approve the New Amendment to the New Building Act

An amendment to Act no. 283/2021, Building Act (the “New Building Act”) has been approved by the Chamber of Deputies, bringing key changes to Czech construction laws and permitting processes (the “New Amendment”). The New Amendment has been passed to the Senate, which should approve it shortly. The original New Building Act, representing a major change of Czech building regulations, was adopted back in July 2021. The law introduced key changes, for example creating a new system of building authorities, consolidating permitting into a single per-project permit, and introducing limitations on the appeals process. However, mostly due to political reasons the effectivity of the law’s key provisions was postponed to