Kinstellar successfully completes the largest retail transaction
21.06.2011Company: Amcham
Prague, 3 June 2011 – The international law firm Kinstellar, one of the largest in the Czech Republic, completed successfully the largest acquisition of retail parks in the recent years in the Czech Republic and Slovakia on behalf of the investment and development group Czech Property Investments.
Czech Property Investments, one of the largest and most active commercial real estate investment groups in the last year bought a portfolio of 14 retail parks in the Czech Republic and Slovakia from the Austrian developer Real4You worth over CZK 1.6 billion (EUR 64 million). The retail parks extend over nearly 50.000 sq. m. Kinstellar advised on structuring and transactional issues in negotiating the deal, due diligence and the contractual documentation. The retail parks accommodate Penny Market stores as well as the well-known Family Centres and in addition to a selection of store chain food items they offer clothing, footware, drugstore products, electronics and other goods. The whole transaction involved negotiations with 14 parties in the Czech Republic and Slovakia while funding for the individual parks was provided by different banking groups. The advice covered not only completed and fully let commercial areas but also areas under construction with a lease option. Kinstellar’s partner Kamil Blažek adds: “The acquisition of Real4You was a very complex one as it involved four national laws and a relatively highly diversified portfolio which made the execution of the transaction very demanding.”
