CMS advises Verdion on the sale of UPS Prague logistics

Pan-European logistics real estate specialist Verdion has sold UPS’s Czech headquarters and principal logistics hub to Safichem Invest a.s., the investment management arm of leading complex engineering, manufacturing and asset management company Safichem Group AG.

The 13,600 sq m building in Tuchoměřice, located at Prague international airport, was acquired by Verdion in 2018 as a forward-funded development and became the first asset in the Verdion European Logistics Fund (VELF1). The property was developed for UPS’s own occupation and let on a 15-year lease from practical completion in December 2019.

An international CMS team, led by partner Gérard Maitrejean (Corporate/M&A) from CMS Luxembourg, provided comprehensive legal advice to Verdion on the transaction. The Luxembourg team was comprised of Marie Dupuis (Senior Associate) and Adrien François (Managing Associate) for corporate aspects, Frédéric Feyten (Partner), Alejandro Dominguez (Counsel),  Imelda Navarro (Senior Associate), Pierre George (Managing Associate) and Vicente Chapa (Associate) for Tax aspects, as well as Vivian Walry (Partner), Zornitsa Dimitrova (Counsel) and Suzanne Chibane (Associate), for the financial aspects. Pavel Srb (Senior Banking & Finance Associate) from CMS Prague supported on local aspects.