Sat, Feb
59 New Articles

Schoenherr Advises Redside on Acquisition of Panorama Business Center in Prague

Schoenherr Advises Redside on Acquisition of Panorama Business Center in Prague

Czech Republic
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Schoenherr has advised Redside Investicni Spolecnost, a.s. ("Redside"), the manager of the real estate open-ended investment fund NOVA Real Estate, on its acquisition of the Panorama Business Center building from Dutch closed private investment fund Mint Fund 8 B.V. The closing took place on December 1, 2016.

Built in 2000, the Panorama Business Center is a modern office building in the center of Prague. It offers 6,800 square meters of leasable floor space and 91 parking places in the underground garage. The building has eleven floors, including three underground.

Redside, which is part of the ASB Group, provides services related to company formation and accounting, as well as reporting, tax advisory, and trust management. Founded in 2012, the company manages qualified investor fund assets worth billions of Czech crowns. The company offers its services in particular to private equity investors and financial groups, Czech developers, and real estate investors, as well as foreign asset managers and institutional investors.

Mint Fund 8 B.V. belongs to Mint Investments, a leading Central European manager of real estate investments.

"We saw this year a surge in commercial real estate transactions in Prague with both local and international investors showing interest in this sector," said Schoenherr Real Estate Partner Gabriela Porupkova, who led the firm's team on the deal. "The Panorama Business Center is a well-known building in downtown Prague and we are thrilled that we could support Redside on this transaction." 

In addition to Porupkova, the Schoenherr team advising Redside consisted of Attorneys Miroslav Dudek, Otakar Fiala, and Denisa Assefova, and Associates Christoph Durr and Jakub Karfilat

ASB Consulting provided financial and tax advice to Redside, and construction consultancy Sentient provided technical advice and support.

Mint Fund 8 B.V. was supported by CBRE, but did not retain external legal counsel.

Czech Republic Knowledge Partner

HAVEL & PARTNERS, attorneys-at-law, with offices in Prague, Brno, Bratislava, Pilsen, Olomouc, and Ostrava, has a team of 220 lawyers, tax advisors and 500 employees in total, is the largest independent law firm in Central Europe.

Our clients include large international companies, leading Czech and Slovak firms, including strategic state-owned companies and public sector authorities, as well as medium-size businesses, individual entrepreneurs, and investors. We advise approximately 100 of the Fortune 500 companies, and almost 50 of the Czech Top 100 companies. HAVEL & PARTNERS currently provides its services to a total of 2,000 clients. We have the most comprehensive international support available to both Czech and Slovak law firms. We provide legal and tax advice in 12 world languages in more than 90 countries around the globe. Up to 70 % of the transactions we deal with involve an international aspect.

HAVEL & PARTNERS was named the best law firm operating in the Czech Republic by the prestigious British rating agencies Chambers and Partners (2020) and Who’s Who Legal (2018, 2019). It is also the most successful law firm, providing the most comprehensive legal services in the Czech Republic and Slovakia, based on the total number of all nominations and awards in all years of the Law Firm of the Year awards. The firm became the absolute winner of this competition four times in the last six years, receiving the main award Domestic Law Firm of the Year in the Czech Republic (2015, 2017, 2018, 2020) and ranking as one of the most recommended law firms in all categories of law. Our company is also a three-time winner of the Law Firm of the Year award for Best Client Services (2015, 2016, 2019). In the field of M&A, HAVEL & PARTNERS is the best law firm in the Czech Republic based on the annual International Advisory Experts awards (2018, 2019). In Slovakia, it also won the prestigious global M&A Today Awards (2013–2018) for Mergers & Acquisitions six times in a row, and repeatedly won first place in the ranking by Lawyer International Legal 100 (2017, 2018). Prestigious international rating agencies EMIS DealWatch and Mergermarket have ranked HAVEL & PARTNERS among the leading law firms by the number of transactions completed in the entire CEE region since 2009. Based on annual awards of the Acquisition International magazine, HAVEL & PARTNERS has become the Law Firm of the Year 2019 in the M&A category in the CEE region.

Firm's website: https://www.havelpartners.cz/en/

Our Latest Issue