Schoenherr Prague has advised an Austrian real estate investor on the recent acquisition of two multifunctional buildings at Revoluční 1 and 3 in the historical centre of Prague, from Irish investment and development company Markland Holdings Limited (“Markland”). The buildings offer 6,300 sq.m. of retail space and 7,700 sq.m. of office space.
Schoenherr supported the investor on the due diligence, sale and purchase agreement negotiations as well as on the preparation of other transactional documentation.
“Commercial real estate investment in Prague is on the rise, drawing the interest of both foreign and local investors. The acquisition of these premium retail and office assets in the centre of Prague illustrates the appeal of the market and the persistent demand for premium and high street properties,” said Gabriela Porupková, partner in the Prague Schoenherr office.
TPA Horwath acted as financial advisors to the investor and CBRE provided support as technical advisors. Markland, the seller, was supported by Wilson & Partners as legal advisors and JLL as transaction advisors.
