Global law firm Dentons advised the Belgium-based real estate developer Codic on the development of the Green Court multifunctional project in Budapest, and on its €77 million sale to Groupama Gan REIM. The project consists of a residential, office and retail complex with approximately 20,200 sq.m. of lettable space.
Dentons supported Codic on the site acquisition in 2008, provided zoning and licencing assistance in the planning and construction phases, drafted the design and construction contracts, negotiated the lease agreements (including the lease with core tenant Diageo), and assisted in property management and day-to-day operations. In February 2022, Dentons partner Kovari Judit introduced Codic to the French investor Groupama Gan REIM. The investor, acting on behalf of SCPI Affinités Pierre, purchased the Green Court office complex in an asset transaction, which closed successfully in November 2022.
Kovari Judit, Head of Dentons’ Real Estate practice in Budapest, led the legal team on the transaction, supported by senior associates Gerendas Anna, Varnagy Rita and associates Szolnoki Eszter, Zsombor Frankó and Dávid Demcsák.
