bpv BRAUN PARTNERS worked diligently in advising IMMOFINANZ on the acquisition of the office complex Palmovka Open Park in Prague from Metrostav Development.
12 July 2019. bpv BRAUN PARTNERS provided a wide breadth of legal services for the project including due diligence and negotiation of the transaction documentation. Led by Miroslav Dudek (partner), the team also included Pavlína Tejralová (attorney) and other bpv legal professionals.
The transaction closed on 8 July 2019 for roughly EUR 76.4 million.
Palmovka Open Park won Best of Realty 2018, a prestigious award on the Czech real estate market. The facility’s many features include unique architecture, high-end construction and materials, and flexibility of use. The new complex is highly attractive to tenants for its sensitive combination of modern architecture and history.
bpv Braun Partners worked on this project on the buyer’s side alongside TPA (financial and tax advisers) and Sentient (technical advisers). The seller received advice from Havel Partners (legal advisers), KPMG (financial and tax advisers) and Knight Frank (commercial advisers).
IMMOFINANZ is a commercial real estate group whose activities are focused on the retail and office segments of seven core markets in Europe: Austria, Germany, Poland, Czech Republic, Slovakia, Hungary and Romania. The core business covers the management and development of properties, whereby the STOP SHOP (retail), VIVO! (retail) and myhive (office) brands represent strong focal points that stand for quality and service. The real estate portfolio has a value of approx. EUR 4.4 billion and covers roughly 220 properties. IMMOFINANZ is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw. Further information under www.immofinanz.com.
About bpv BRAUN PARTNERS
bpv BRAUN PARTNERS is one of the leading international law firms in the Czech Republic and Slovakia. It is also a founding member of bpv LEGAL, a close association of law firms operating in Central and Eastern Europe for many years. Its team consists of more than 36 lawyers offering its clients, key Czech and foreign companies, comprehensive services in many areas of law. The key expertise of bpv BRAUN PARTNERS includes merger and acquisitions, corporate law, real estate law and also tax advisory services. Its experts also deal with copyright and IT law, competition law, energy and labour law, life sciences and represent their clients before Czech, German and international courts and in arbitrations. See more at www.bpv-bp.com
bpv BRAUN PARTNERS s.r.o.
Mgr. Sandra Kvasnicová, Head of Marketing
Tel: +420 224 490 000