Munich-based GLL Real Estate Partners has acquired Váci 1, a landmark retail and office building in downtown Budapest for a separate account mandate from Bayerische Versorgungskammer.
GLL was advised by Dentons.
'Our capabilities to support acquisition and inward investment around the most prominent and prestigious trophy assets in the Hungarian real estate space are showcased by this deal,' said Judit Kovári, head of Dentons’ Real Estate group in Budapest.
The vendor was Horizon Development, which sold its 100% stake in the property for an undisclosed sum.
Earlier this year, retailer H&M opened its biggest European store in the property.
