NNDKP assisted Gránit Asset Management in the EUR 52 million acquisition of Equilibrium 1 office building

Nestor Nestor Diculescu Kingston Petersen (NNDKP) assisted Grodiusz Private Equity Fund, an investment fund managed by the Hungarian company Gránit Asset Management, in the acquisition of Equilibrium 1 office building from Skanska Commercial Development, one of the largest developers of commercial and residential projects, in a EUR 52 million transaction.

Gránit Asset Management, a Hungarian institutional investor managing 24 investment funds, including the third largest retail fund in Hungary, integrates real estate, capital markets and private equity expertise into one business, its current Assets Under Management account being worth more than EUR 2.7 billion.

Equilibrium 1 office building was completed in 2019 and features around 21,000 sqm of leasable space across 11 floors, as well as 240 parking spaces. With this transaction, Gránit Asset Management continues the expansion of its international property portfolio and strengthens its presence in the Central and Eastern European market, in cities like Bucharest, Budapest, Belgrade, Vienna and Bratislava.

NNDKP provided legal assistance in all stages of the transaction, both in the due diligence phase and in the preparation and negotiation of the transaction documents.

The NNDKP team involved in the acquisition was coordinated by Lavinia Ioniță-Rasmussen, Partner, Real Estate practice, who worked closely with Flavia Petcu, Senior Associate, Real Estate practice. The multidisciplinary team involved in the transaction also included Vlad Tănase, Partner, Real Estate practice, who coordinated the legal assistance on the lease aspects, Iurie Cojocaru, Partner, Data Protection practice, who advised on data protection and privacy matters, Senior Associate Alexandru Ciambur, from the Banking and Finance practice, who provided legal input on the financing aspects, Associate Bianca Isache and Associate Iulian Ursache, from the Real Estate practice.

“We are proud to have supported Gránit Asset Management in its first strategic acquisition in Romania, marking a significant milestone in their expansion into the local market with the purchase of the Equilibrium 1 office building. This achievement underscores Gránit Asset Management’s continued growth and commitment to broadening its international presence. We extend our sincere gratitude for the trust and confidence they have placed in our team”, declared Lavinia Ioniță-Rasmussen, Partner.

NNDKP’s real estate team consistently advises major players in the market on some of the largest and most complex deals across asset classes, having contributed to the evolution of the real estate sector in Romania. With a strong portfolio of successful closed transactions, the team is recognized as a market leader and an advisor of choice for high-calibre clients.

With more than 35 years of experience in the market, NNDKP lawyers provide integrated and specialised assistance in all areas of law involved in transactions and regulatory projects, helping to identify bespoke solutions and strategies for each client.