PeliPartners has advised Global Trade Center on the sale of Bucharest’s Cascade Office Building to Hungarian Crown Holding Kft.
GTC is a commercial real estate company in CEE. Crown Holding is a real estate investment company active in the Hungarian and Romanian real estate markets.
Developed in 2004, the Cascade Office Building is a class-A office building with a surface of 4,300 square meters.
PeliFilip – which split into PeliPartners and Filip and Company in 2019 (as reported by CEE Legal Matters on April 2, 2019) – advised GTC in 2017 when it acquired the building from Adval Properties for EUR 9 million (as reported by CEE Legal Matters on July 13, 2017).
The PeliPartners team was led by Senior Associate Antonia Nica and included Senior Associate Oana Bucsa and Associate Adelina Iordache, supervised by Managing Partner Francisc Peli.
PeliPartners said it cannot disclose the buyer’s legal advisor.