29
Fri, Mar
47 New Articles

Wolf Theiss Advises on Slovenian Strip Mall Sale

properties.immofinanz.com

Slovenia
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Wolf Theiss has advised Pramerica Real Estate Investors (Luxembourg) on the sale by a fund it manages on part of its retail portfolio in Slovenia.

The firm reported that the transaction was performed via share deal, whereby a company belonging to the Austrian Immofinanz Group, Stop Shop Slovenia B.V., acquired 100% of the shares in Slovenian C.E. Investicije from the Central European Prague Investment fund. The sale involved strip malls located in the cities of Celje, Velenje, Postojna and Domzale, comprising a total of over 12,800 square meters of fully let space.

According to Wolf Theiss, “the sale of four shopping centers is one of the few real estate deals which have been successfully completed since the Slovenian real estate market had been deeply impacted by the financial crisis and decreased in 2008.” 

"The successful completion of the sale of the four strip malls in Slovenia is an integral element of our business plan," says Rudiger Schwarz, director of Pramerica Real Estate Investors (Luxembourg).

Wolf Theiss assisted Pramerica Real Estate Investors (Luxembourg) with the acquisition of the Slovenian malls back in 2006/2007, before advising on their sale this month. "We are very proud of our achievements in providing continuous legal support to Pramerica Real Estate Investors (Luxembourg) S.A. in Slovenia over the last 8 years," commented Wolf Theiss Partner Erik Steger, who was involved in both transactions. "The complexity of the deal was in aligning specific interests of both parties, after lengthy preparations and negotiations," added Counsel Laura Struc, who supported Steger.