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Deals April 2022

Kinstellar advises S Immo AG on the acquisition of EXPO Business Park from Portland Trust

Kinstellar is delighted to announce that it has advised S Immo AG, a leading Vienna-listed real estate investor and developer, on the acquisition of EXPO Business Park, a three-building office complex in Bucharest, Romania, from Portland Trust. The transaction value remains confidential but, when closing occurs, it is estimated to be one of the largest commercial property transactions in Romania for 2022. Kinstellar advised on all legal aspects, including full due diligence, transaction documentation, and other matters. S Immo AG is a leading real estate investment company focusing on Austria, Germany and CEE, with 70% of its portfolio consisting of commercial properties (offices, shopping centres and hotels). With

Insights March 2022

Documentation of Damaged Property in Ukraine and Possible Legal Remedies: Steps and Options to Consider

While we hope that there will be no need to use the below manual, we want to ensure that companies are aware of the steps to take if their property in Ukraine is damaged as a result of the Russian invasion. We have prepared overview of the main points to consider regarding the documentation of damages. Download in English: Download in Ukrainian:     For more information, please contact: Olga Vorozhbyt, Partner, Head of Compliance, Risk & Sensitive Investigations (CRSI) and White-Collar crime services, at +380 067 449 0511,

Deals March 2022

Kinstellar advises Remix Global on a long term lease of office space in Business Garden Office X and a warehouse near Sofia

Kinstellar’s team in Sofia has advised Remix Global on the long-term lease of nearly 2,300 sq.m. office space in Business Garden Office X located in one of Sofia’s most attractive business areas, as well as on the multi-stage leasing of a warehouse of more than 30,000 sq.m. in the vicinity of Sofia. Having assisted thredUP, one of the largest online resale platforms in the world, with the acquisition of its European peer, Remix Global, we continue to provide local support on the expansion of Remix Global’s operations. Kinstellar’s team included Antonia Mavrova (Partner) and Simeon Vachev (Senior Associate). For more information please contact Antonia Mavrova, at.  

Deals March 2022

Kinstellar advises one of the Hungarian subsidiaries of Logicor on the sale of WestGate Business Park

Kinstellar Hungary has successfully advised one of the Hungarian subsidiaries of Logicor on the sale of WestGate Business Park comprising of warehouse and office areas with a total surface area of approximately 18 000 sqm to Biggeorge Property. The deal is one of the largest transactions of its kind on the Hungarian logistics market.  The Budapest office advised on various legal aspects throughout the whole transaction covering, among others, #real estate, energy and IP related matters. Kinstellar’s team was led by Mónika Frank (Of Counsel and Co-Head of the Hungarian Real Estate practice) and supported by Bertalan Ványa (Junior Associate), Dániel Endre Nagy (Senior Associate), Péter Gullai (Senior Associate)

Insights March 2022

Real Estate & Construction sector overview and our services in Bulgaria

Are you planning an investment in real estate in Bulgaria? Careful consideration of associated risks can improve the chances of a timely and profitable deal without facing the challenges of myriad legal, regulatory, and technical issues. Kinstellar’s Sofia office helps you to successfully complete real estate transactions in Bulgaria. Meet our lawyers to find out some of the most important legal considerations upon entering the Bulgarian real estate market.  An overview of the sector and how can we help could be downloaded here - Kinstellar - Bulgaria Real Estate sector services profile. For more information please contact Antonia Mavrova, Partner and Head of Real Estate in our Sofia office, at

Deals March 2022

Kinstellar advises 365.invest on its real estate portfolio expansion in the Czech Republic

Kinstellar has successfully advised the investment fund 365.invest on its acquisition from CPI Property Group of three shopping centre projects in the Czech Republic. The shopping centres involved are IGY České Budějovice, OC Géčko and Shopping Center City Park Jihlava. The deal  is one of the largest transactions of its kind on the Czech-Slovak market.  Kinstellar advised on due diligence and negotiation of transaction documentation. The Kinstellar team was led by Partner Jan Juroška and included Michal Kníž (Managing Associate), Markéta Škvorová (Associate) and Denisa Šimanská (Junior Associate). For more information please contact Jan Juroška, Partner, at 

Deals February 2022

Kinstellar advises Portiva on its CZK 1 billion acquisition of the SmichOff office building in Prague

Kinstellar has successfully advised the Brno-based investor Portiva on its acquisition of SmichOff—a state-of-the-art office building completed in 2019 in Prague’s 5th district—from the building’s developer, Penta Real Estate. SmichOff was designed by Bogle Architects and achieved a LEED Gold certificate. The value of the deal exceeded CZK 1 billion. The building offers over 10,000 sqm of office premises and its main tenants include Spaces (which operates one of its co-working centres in the popular office district), Beat Games (part of the Facebook group), Jägermeister and Otis. Kinstellar advised on due diligence, the negotiation of transaction documentation, and in connection with financing.

Insights January 2022

Uzbekistan reinforces legal framework for privatization of land

On 15 November 2021, the President of Uzbekistan signed the law No.ЗРУ-728 “[on] privatization of non-agricultural land plots”, which entered into force on 16 November 2021 (the “Law”) and which abolished the earlier adopted law No.ЗРУ-552 dated 13 August 2019. The Law covers privatization of land plots (the “Land Plots”) that are not allocated for agricultural needs and not intended for these purposes.   In addition to vacant Land Plots, the Law stipulates that the following types of Land Plots can be privatized: Land Plots provided to legal entities for entrepreneurial and urban development activities; Land Plots provided to citizens of the Republic of Uzbekistan for individual

Insights December 2021

Problems of construction licensing in Ukraine within the framework of recent reforms

The December issue of the Ukrainian legal affairs magazine "Yuryst & Zakon" ("Юрист і Закон") features the article by Diana Malysh, a Kinstellar Associate in Kyiv, on the problematic consequences of the liquidation of the construction licensing in March 2020 within the construction reform in Ukraine. The article was published in issue № 48 of "Yuryst & Zakon" (2 December 2021) and is available in the Ukrainian language only. Please, click here to read the whole article.  For more information, please contact Diana Malysh, Associate, at 

Deals November 2021

Kinstellar advises FirstFarms A/S on a sub-sale of land in western Romania

Kinstellar and Dewi Advisory continue to advise the Danish agricultural investment company FirstFarms on a new sale of land in western Romania for DKK 20 million. The transaction is part of an agreement signed by FirstFarms to divest the farming operations it owns in western Romania. Once FirstFarms ends operations in western Romania, the company will shift its focus towards the crop production in the eastern part of the country. Founded in 2006, FirstFarms is headquartered in Denmark and operates in Romania, Slovakia, Hungary, and the Czech Republic. The company has 16 plant and animal production units, with over 300 employees. The team assisting on the matter was coordinated by Razvan Popa, partner

Deals October 2021

Kinstellar advises on the sale of Park Lane Office Building to SAP, the largest office investment deal in Bulgaria in recent years

Kinstellar Sofia team has successfully supported Park Lane Developments with the largest investment deal on the Bulgarian office market for the last three years. SAP, a world leader in business software, has acquired Park Lane Office Center in Sofia. The office building is a world-class office property developed by Park Lane Developments, part of AG Capital group. It already hosts Allianz Bulgaria headquarters which brought together 600 of its employees from 9 different locations. Recognising the potential of the building, SAP Labs has decided to invest in the property and relocate all its employees in Bulgaria to the new office centre while implementing flex work. Kinstellar’s team included Partner Antonia

Deals September 2021

Kinstellar advises the joint venture of Element Industrial and Dedeman on the successful sale of ELI Park 1 to Fortress REIT

Kinstellar is delighted to announce that it advised the joint venture of Element Industrial, the industrial division of leading Romanian property developer, Ionut Dumitrescu, and Dedeman, Romania’s largest retail company - DIY stores - active in the field of construction materials and design, on the successful sale of Eli Park 1 to Fortress, one of the largest real estate investments trusts (REITs) in South Africa. Eli Park 1 is a Class A industrial park with a total area of 50,000 sqm, located in the newest logistics hub in Bucharest north-west, Buftea – Chitila. The transaction team was led by Alexandru Mocănescu, Counsel, with the support of Victor Constantinescu, Managing Partner, Bucharest, and Co-head