Lakatos, Köves and Partners advised Prologis on the acquisition of Prologis Park Budapest-Ullo, the 37,500 square metre Auchan-occupied building in Budapest, Hungary, located in the vicinity of the Budapest Airport and the Budapest ring road M0, 30 kilometres from Budapest city centre. The high-quality logisctics facility is 100 per cent leased.
„Hungary is over the crisis in the Real Estate market. Expectations are rising and transactions are happening. Deals like this mark a change from the crisis management that we have seen in recent years”, says Attila Ungár, head of the Real Estate Practice of Lakatos, Köves and Partners.
The deal was made by Prologis European Properties Fund II (“PEPF II”), established in August 2007, which is one of four European co-investment vehicles managed by Prologis. At 31 March 2014, the Fund owned 253 properties, for a total of 5.9 million square metres with a net market value of €3,595.4 million.
Prologis owns and manages approximately 3.7 million square metres of logistics and distribution space in Central & Eastern Europe as of 31 March, 2014.
Lakatos, Köves and Partners Real Estate Practice was named Tier One by Legal 500 in 2014.