October 2015 - Kinstellar served as advisor to Nova Real Estate, a newly established Czech real estate fund managed by the investment company Redside, on the successfully completed acquisition of a real estate portfolio from Bluehouse Capital. The sale covered three commercial properties: the Rynovka retail centre in Jablonec nad Nisou (with a gross area of 27,990 sqm), the Orlice Park retail centre in Hradec Kralove (with a gross area of 26,283 sqm), and an Albert Hypermarket in Znojmo (with a gross area of 7,694 sqm). The total floor space of the acquired portfolio is 62,000 sqm.
Kinstellar advised Nova Real Estate on all aspects of the transaction, including due diligence and negotiation of the transactional documentation. The transaction was particularly complex because of the time constraints imposed and the diversity of the assets in the portfolio. Although the purchase price for the portfolio has not been disclosed, it is one of the largest real estate transactions in the Czech Republic in 2015.
Consulting and advisory services for the transaction were also provided by real estate consultant Colliers International, tax and accounting experts from ASB Accounting and on the seller’s side by JLL and CMS Cameron McKenna.
For more information please contact Klára Štěpánková, Partner and head of the firm-wide real estate practice, +420 221 622 116, .