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CMS advises Deka Immobilien on a landmark deal in the Czech Republic

CMS has advised German real estate fund Deka Immobilien on the acquisition of the prestigious building complex “The Park” in Prague from an affiliate of global private investment firm, Starwood Capital Group.  

“The Park” is a complex consisting of 12 office buildings built between 2003 and 2008 in an attractive campus-style formation with a central plaza on a property approximately 75,000 m² in size. The 116,000 m² of leasable space is primarily occupied by leading international technology companies including DHL, Honeywell, CA Technologies and IBM.

The deal was signed on 29 September and came to a successful close on 14 November. It is the largest ever office transaction in the Czech Republic.

The CMS transactions team advising Deka Immobilien was led by Prague real estate partner, Lukáš Hejduk, and consisted primarily of real estate associates Petr Huk, Lucie Kislerová, Petr Korál, Michal Samek and Tereza Maternová; supported on the corporate aspects of the transaction by Magda Nĕmcová and Pavel Kocián; Barbora Dubanská and Tomáš Pavelka on competition clearance; Frances Gerrard on warranty insurance and on the financing by Pavla Křečková and Lukáš Valúšek.