Hungarian real estate investor Indotek Group has signed a sale and purchase agreement for the purchase of 11 office buildings from Globe Trade Centre (GTC) for the proposed acquisition price of EUR 267,6 million. The GTC office portfolio is located in New Belgrade, a prime business district in Belgrade, and consists of 11 premium quality office buildings within 5 business parks – Green Heart, FortyOne, Belgrade Business Center, 19 Avenue and GTC House, with total of 122,175 square metres GLA.
Indotek Group is a Hungarian property investment, utilization and development company. Its portfolio encounters more than 1.7 million square metres of buildable and leasable area, 30+ office buildings, 20+ shopping centres and around 100 warehouses, industrial halls and logistics parks. GTC Group is one of the leading real estate investors and developers operating in Poland, Budapest, Bucharest, Belgrade, Zagreb and Sofia.
Indotek Group was advised on this transaction by Lakatos Köves and Partners and BDK Advokati.
BDK team was led by senior partner Dragoljub Cibulić, and included partner Milan Dakić, counsel Dragoljub Sretenović, associates Djordje Zejak, Marija Gligorević, Mladen Vujić and Igor Matić, and junior associates Tijana Martinović, Sanja Dedović, David Vučinić and Luka Radojević.
This is one of the largest real estate transactions in the last 5 years on the CEE market, and the largest real estate transaction on the Serbian market ever. The completion of transaction is expected in Q3 2021.
Photo by www.gtcserbia.com
