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22 January 2024
press release

Hungary: Schoenherr advises OTP Real Estate Investment Fund on complex BTS-transaction with Rossmann

Schoenherr advised OTP Real Estate Investment Fund, a Hungarian-based real estate fund, on a complex BTS-transaction involving the purchase of a land plot in Hungary by OTP Real Estate Investment Fund, as well as the conclusion of a long-term lease agreement with Rossmann as tenant, and a development agreement with Panattoni as developer.

This deal marks one of the largest BTS agreements in the domestic logistics market in 2023. The newly developed, tailor-made 32,000 sqm logistics centre will serve Rossmann's retail network with state-of-the-art, semi-automated warehousing and stock management solutions. The development is supposed to have new solutions according to the newest ESG trends and should receive BREEAM Very Good qualification.

Based in Hungary, OTP Real Estate Fund is an open-end fund that invests primarily in Hungarian real estate.

Headquartered in Germany, Rossmann is one of the largest drugstore chains in Europe and employs around 56,000 people.

The Schoenherr team advising OTP was led by László Krüpl (local partner) and included Gergely Szalóki (local partner) and Viktória Magyar (associate).

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