International CMS team advises Allianz Real Estate on acquisition of Eiffel Square office complex in Budapest

Stuttgart – Allianz Real Estate has acquired the Eiffel Square office complex in Budapest on behalf of several Allianz Group insurance companies in an off-market transaction. Constructed some ten years ago, the complex is one of the largest office buildings in Budapest and occupies a central location. It comprises rental space of 23,500 square metres and is fully let to BNP Paribas, Medicover, Dealogic, and other tenants. The basement offers 5,000 square metres of retail, service and restaurant space. The details of the transaction were not disclosed.

An international CMS team led by Stuttgart-based partner Dr Volker Zerr advised Allianz Real Estate on all legal aspects of the transaction. CMS regularly advises Allianz on property transactions, most recently on the acquisition of the Bertelsmann headquarters building in Munich.

Allianz Real Estate is the strategic real estate investment manager within the Allianz Group. It describes itself as currently the world’s largest investor in property. The company develops and implements tailored portfolio and investment strategies on behalf of liability-oriented investors worldwide, including Allianz companies. According to the company’s own figures, Allianz Real Estate had assets under management totalling EUR 73.6 billion as at 31 December 2019.

CMS Germany

Dr Volker Zerr, Lead Partner, Real Estate
Dr Sabina Krispenz, Lead Principal Counsel, Corporate/M&A
Dr Winfried Schnepp, Partner, Regulatory
Dr Christian Haellmigk, Partner, Competition & EU

CMS Hungary

Dr Jozsef Varady
András Klupács
Róbert Kotsis
Dr László Jókay, all Real Estate

Inhouse Legal at Allianz

Dr Markus Trotter-Melitz
Shari Roßkamp

Press Contact
presse@cms-hs.com