Salans' real estate finance team, led by Marcell Clark, advised ING Lease on a landmark €75 million multi-jurisdictional portfolio financing to Portico Investments Limited. ING Lease financed a significant portion of the Hungarian, Czech and Romanian part of Portico's commercial property portfolio in Central and Eastern Europe. The borrower was represented by Weil Gotshal's Budapest office.
The financing was completed in the midst of the continuing global economic slowdown and reflects the long standing commitment of the parties to Central and Eastern Europe. "ING Lease is proud to have assisted Portico with its latest investment project across Central and Eastern Europe. The legal advice provided by Salans in relation to this deal demonstrated the strength and depth of expertise they have across the region" said Del Chandler, CEE Managing Director of ING Lease.
According to Marcell Clark, "The environment for borrowing has become exceptionally difficult, and therefore it is encouraging to see that the fundamentals of individual transactions, such as this one, can still drive a large financing to completion."
Marcell Clark was supported in this cross-border transaction by senior lawyers from three Salans offices: Péter Bálint and Anna Gerendás from Budapest, Jiří Stržínek and Bohuslav Matuška from Prague and also Doru Postelnicu from Bucharest.
Salans has been recognised for the second consecutive year by Euromoney as having the top real estate team in "Emerging Europe" which includes adviser in Emerging Europe (Poland, Czech Republic, Hungary, Romania, Ukraine, Russia and Turkey). With nearly 250 real estate and real estate finance specialists located in offices stretching from New York to Shanghai, Salans has the largest fully integrated emerging markets real estate practice among leading international law firms.