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Kinstellar advises A1 on the acquisition of a significant greenfield site in Serbia
Kinstellar is pleased to announce that it has successfully advised A1 Srbija, a leading telecommunications company in Serbia, on the acquisition of a significant greenfield site in Serbia. A1 Group is a leading telecommunications provider in Central and Eastern Europe, offering advanced communication solutions and digital services to millions of users. Operating in multiple countries including Austria, Slovenia, Croatia, and Bulgaria, A1 Group provides mobile, broadband, TV, and cloud services. Kinstellar provided full legal support throughout the process, including the legal due diligence of the location, negotiations with the seller, signing and notarization of the purchase agreement. This transaction marks another
Kinstellar advises MEREP on the acquisition of 50% ownership interest in OC Point Liptovský Mikuláš
Kinstellar has successfully advised Mitiska European Real Estate Partners 3 on the acquisition of a 50% ownership interest in OP Centrum Retail 2 from OPC Group. The target of the transaction, OP Centrum Retail 2, is currently developing a retail park in Liptovský Mikuláš in northern Slovakia. Mitiska European Real Estate Partners 3 (“MEREP 3”) is a fund owned by Mitiska REIM, a leading specialist investor in European convenience real estate. Kinstellar has also recently advised Mitiska REIM on the acquisition of four other retail parks from OPC Group—including Point Skalica, Point Sládkovičovo, Point Žiar nad Hronom, and Point Veľké Kapušany—as part of Mitiska REIM’s plans to expand its retail
Kinstellar advises on a joint venture related to the acquisition of a strategic building for the development of the space sector in Bulgaria
Kinstellar advised Peter Mitev, co-founder and former CEO of Chaos Group, a global leader in computer graphics technologies, and Big Orange Foundation, on the legal aspects of their joint venture with Raycho Raychev, founder and CEO of Endurosat, one of the fastest growing satellite companies in the world, in relation to the acquisition of a landmark 17,000 sqm building in Sofia, Bulgaria. The building is strategic for Endurosat's vision for the development of the space sector and will be used for space research and other key operations. The acquisition of the building, formerly the headquarters of Alpha Bank, is the largest office transaction on the Bulgarian real estate market for the year 2024 to date. The Kinstellar
Kinstellar advises Mitiska REIM on a joint venture with Park Lane Developments for the development of retail parks in Bulgaria
Kinstellar has advised the Mitiska European Real Estate Partners 3, a real estate fund managed by Mitiska REIM, on its entry into the real estate market in Bulgaria through a joint venture (JV) with Park Lane Developments. Mitiska REIM, the leading specialist investor in European convenience real estate, and Park Lane Developments, a leading commercial property company developing and managing prime office, logistics/light-industrial, and retail park assets in CEE, plan to develop and open at least five prime retail parks in Bulgaria over the next five years. Kinstellar advised on the structuring and implementation of the JV. The team was led by Partner Antonia Mavrova (Head of Real Estate, Construction &
Kinstellar assists Globalworth again on a logistics portfolio sale in Romania
Kinstellar is delighted to announce that it has again successfully advised Globalworth, an AIM-listed, leading office investor in Poland and Romania, on the sale of a logistics portfolio in Romania, to the buyer WDP. The transaction closed in July 2024, being one of the largest logistics transactions in Romania to date in 2024. The portfolio sold to WDP was a joint venture with Global Vision, and includes sizeable lettable logistics and industrial facilities as well as land bank in Chitila, Constanta and Targu Mures. This transaction follows on the heels of Globalworth’s sale of another logistics portfolio to CTP earlier this year in May. Kinstellar provided comprehensive support on all aspects of the transaction.
Kinstellar advises on the green loan financing for CPI Property Group in the Czech Republic
Kinstellar has successfully advised ČSOB on the financing of a portfolio of rooftop solar power plants for CPI Property Group in the Czech Republic through a green loan. The transition to an ecological, low-carbon economy is an essential step for our continued operations. Green financing drives changes towards a sustainable future by supporting projects, initiatives, and technologies that positively impact the environment. The current construction of the solar power plants portfolio is one such example in which Kinstellar has played a key advisory role for the ČSOB group. CPI Property Group is a leading European real estate owner with over thirty years of history. In the Czech Republic, it is the largest owner of
Individuals are advised to check their personal online tax accounts for real property tax liability
In Ukraine, individuals are obliged to pay the respective real estate tax upon receiving a notification-decision from the tax authorities, which should arrive by July 1. Even if such a decision is not received by this date, the tax authorities still have a three-year period within which valid payment notifications can be sent. The tax authority regularly updates its tax database, so the safest way to check one’s tax liability is to use a personal online tax account on the official website of the tax authority. The attached alert outlines the key points regarding the payment of real estate tax for individuals, namely who must pay the tax, in what amount, within what time frame, etc. Please read below our overview in English
Kinstellar advises Globalworth on the sale of logistics portfolio in Romania to CTP
Kinstellar is delighted to announced that it has advised Globalworth, a leading office investor in Central and Eastern Europe (CEE), on the sale of a part of its logistics portfolio to CTP, the largest owner and developer of logistic and industrial spaces by gross leasable area in CEE. The transaction was signed in March 2024 with closing having occurred in May 2024. This transaction is the largest real estate deal in Romania in 2024 so far. The portfolio comprises almost fully-let logistics and light-industrial facilities in Chitila and Afumati (near Bucharest), Oarja (near Pitesti), Giarmata (near Timisioara), Oradea and Arad. Kinstellar advised on all transactional matters, including drafting, negotiation and execution
Kinstellar advises S IMMO AG on its acquisition of a EUR 463 million property portfolio in the Czech Republic
Kinstellar has successfully advised S IMMO AG, a real estate investment company, on the successful acquisition of a property portfolio in the Czech Republic from CPI Property Group. The portfolio consists of two office buildings, two shopping centres, a mixed-use property and a single-tenant retail building. The property value of the transaction is EUR 463 million with an annual rental income value of around EUR 28.3 million. We're delighted to have supported S IMMO AG in their strategic acquisition, enhancing their footprint in the Czech real estate market. We believe our expertise played a role in the successful outcome of this transaction, showcasing our team’s ability to efficiently handle major real estate deals.Klára
Kinstellar advises the hospitality division of the House of Julius Meinl group on the purchase of the historic Hotel Ambasador in central Bucharest
Kinstellar is delighted to announce it has advised the hospitality division of the House of Julius Meinl on the completion of the purchase of the Hotel Ambasador, one of the most famous hotels in Bucharest. Operating continuously since 1937, it is an iconic landmark in the city. The transaction structure was complicated, as it involved different, numerous sets of owners and involving both share and asset transaction aspects. It took several months to negotiate and close. Julius Meinl intends to invest tens of millions of EUR to refurbish the hotel and bring it to the standards of its “The Julius” brand operating elsewhere. Kinstellar advised on all aspects of the matter, including real estate due diligence
Kinstellar advises Wizz Air on the lease of its headquarters in Hungary
Kinstellar has successfully advised Wizz Air in connection with the preparation and negotiation of a lease agreement for its new office headquarters in Millennium Tower, Budapest. The deal is one of the largest transactions of its kind on the Hungarian real estate market recently. Our team advised on various legal aspects throughout the transaction, the subject of which is the lease of more than 8,000 sqm in a Class A office building in Budapest. Kinstellar’s team was led by Partner Annamária Csenterics (Co-Head of the Hungarian Corporate/M&A service line) and Of Counsel Mónika Frank (Co-Head of the Hungarian Real Estate service line) and supported by Associate Judit Sós.
Kinstellar advises S IMMO AG on the sale of Zagrebtower
Kinstellar has successfully advised S IMMO AG on the sale of Zagrebtower office building to the OTP Group. The transaction is expected to close in the third quarter of 2024, subject to the necessary regulatory approvals. Kinstellar advised S IMMO AG throughout the process including on structuring of the transaction, due diligence, and transaction negotiations. Located in the heart of the Croatian capital, the class A office building encompasses a total net area of almost 26,000 m² and has a BREEAM International In-Use Excellent certificate. Zagrebtower consists of a 22-storey, 79 metre office tower with a connected nine-storey low-rise building. The tenants include the Croatian Ministry of Economy and