Glatzova & Co has advised Bohemia Properties on the sale of land in Strizkov to be used for a residential project to Daramis.
Bohemia Properties operates in the hotel industry. Daramis is a development company.
According to Glatzova & Co, “the transaction involved a non-standard settlement of the purchase price, where the client is entitled to a purchase price of CZK 390 million determined by a share of the purchase prices from the sold residential units. This allows the client to achieve a higher purchase price than in a standard land sale, but the payment of the main part of the purchase price is deferred in time, and its final amount will depend on the selling prices of the residential units.”
The Glatzova & Co team included Partner Erik Kolan.
Glatzova & Co could not provide additional information on the deal.
