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Dentons Advises CSOB and Ceska Sporitelna on Financing Nova Waltrovka Project

Dentons Advises CSOB and Ceska Sporitelna on Financing Nova Waltrovka Project

Czech Republic
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Dentons has advised CSOB and Ceska Sporitelna on their EUR 74.13 million loan to Penta Real Estate for the construction of the office buildings within the Nova Waltrovka project in Prague.

According to Dentons, "Nova Waltrovka includes two office buildings, a hotel, and 400 apartments. In October 2022, Penta celebrated the successful completion of the rough construction. The office buildings and adjacent wide boulevard should be completed by autumn 2023."

"Due to the current political and economic uncertainty, many ongoing real estate development projects are facing strong inflationary pressure. According to a recent statement by Penta, the Nova Waltrovka project budget had to be increased by CZK 1 billion to CZK 5 billion to reflect increased costs," the firm informed.

Penta Investments company Penta Real Estate operates in the real estate market in the Czech Republic, Slovakia, and Poland.

The Dentons team was led by Partner Daniel Hurych and included Counsels Jan Hrivnak and Jana Malkova Zelechovska and Associates Martin Fiala, Leontyna Bartova, Jan Blazek, Jan Sedlak, and Samuel Bodik.

Dentons did not respond to our inquiry on the matter.

Dentons at a Glance

Dentons is the world's largest law firm, connecting talent to the world's challenges and opportunities in more than 75 countries. Dentons' legal and business solutions benefit from deep roots in our communities and award-winning advancements in client service, including Nextlaw, Dentons’ innovation and strategic advisory services. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and world-class talent challenge the status quo to advance client and community interests in the New Dynamic.

Dentons is one of the leading law firms in CEE/CIS, with offices in Warsaw, Prague, Budapest, Moscow, Bucharest, Bratislava, Kyiv, Baku, Almaty, Astana, Tbilisi and Tashkent. With a legacy of supporting local and international clients in Central and Eastern Europe since the early 1990s, we have the experience and market insight to help clients close deals, resolve disputes and do business in the key markets across the region.

Firm's website.