Reals has advised investment fund Conseq Realitni on its acquisition of the Kavci Hory Office Park in Prague 4 from CA Immobilien Anlagen. Dentons advised the sellers.
As reported by CEE Real Estate Matters, the sale aligns with CA Immo's “long-term investment strategy, pursuing a focus on large Class A office properties in prime inner-city locations. As part of this strategy, CA Immo is selling properties that do not correspond to the core business in terms of asset class, location, building quality, age, or value creation potential, continuously optimizing the quality and sustainability of the property portfolio. The proceeds from the sale may be used for general corporate purposes, accretive investment in the company’s prime portfolio, repayment of debt, buyback of shares, or external investment should attractive opportunities arise.”
According to Reals, the asset, located in the Pankrac business district, offers approximately 42,300 square meters of rentable space and is primarily used for office purposes.
The Reals team included Partner Gabriela Spak Porupkova and Attorneys at Law Filip Balousek, Patrik Novotny, and Simona Fedorova.
The Dentons team included Partner Marketa Tvrda and Senior Associate David Sutko.
