Clifford Chance's real estate team has advised long-standing client CBRE Global Investors on its acquisition of the OC Letnany shopping center from Tesco, on behalf of a separate account client of CBRE. Tesco was advised by Wilson & Partners.
OC Letnany, the largest shopping center in the Czech Republic with 160 units and covering 63,478 square meters of retail and 3,551 square meters of office space, hosts stores from well-known global brands such as C&A, H&M, Zara, and Marks & Spencer. The center, anchored by a recently modernized Tesco hypermarket, also provides a multiplex cinema, food court, and 3,200 parking spaces. Tesco will continue to operate its hypermarket in Letnany, its flagship store in Czech Republic, on a long-term lease.
The transaction was led by Clifford Chance Partner Emil Holub, supported by Real Estate Associates Aneta Sosnovcova, Michal Pivarci, and Milan Rakosnik. Partner Milos Felgr advised on the financing aspects of the transaction, supported by Associate Dominik Vojta. The team in Prague also coordinated the advice of colleagues from Clifford Chance's Frankfurt, Luxembourg, and Amsterdam offices.
The Wilson & Partners team consisted of Partner Bryan Wilson and Senior Lawyer Monika Kajankova.
Image Source: oc-letnany.cz