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Wilson & Partners and Schoenherr Advise on Markland Sale of Prague Office Buildings to VIG Fund

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Wilson & Partners have advised the Irish investment and development company Markland Holdings Limited on its sale of two multifunctional buildings in Prague to the VIG Fund, an Austrian real estate investor that was represented by Schoenherr. The transaction closed on July 21st, 2016.

The buildings, which are located at Revolucni 1 and 3 in the historical center of Prague, offer 6,300 square meters of retail space and 7,700 square meters of office space. The sale follows several others by Markland in the Czech Republic, including the Klimacentrum mixed use scheme and the Kotva Department store. Bryan Wilson, who led the Wilson & Partners team on the sale with colleague Monika Kajankova, commented “I’ve been advising Markland now for the past 14 years and to sell another asset is an achievement. It has been 14 years where we have seen the market peak and trough but to maintain a constant working relationship with the same client over this period of time has been a pleasure.”

The Schoenherr team was led by Partner Gabriela Porupkova, who commented that: "Commercial real estate investment in Prague is on the rise, drawing the interest of both foreign and local investors. The acquisition of these premium retail and office assets in the centre of Prague illustrates the appeal of the market and the persistent demand for premium and high street properties.” 

Porupkova’s team at Schoenherr consisted of Attorney Miroslav Dudek and Associates Katerina Jancova and Christoph Durr, as well as Attorneys Otakar Fiala, Jitka Linhartova, Natalie Rosova, and Veronika Hockova. 

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PRK Partners, one of the leading Central European law firms, has been helping clients achieve their business objectives almost 30 years. Our team of lawyers, based in our Prague, Ostrava, and Bratislava offices, has a unique knowledge of Czech and Slovak law and of the business environment. Our lawyers studied at top law schools in the United States, United Kingdom, Switzerland and elsewhere. They also have experience working for leading international and domestic law firms in a number of jurisdictions. We speak your language, too. Our legal team is fluent in more than 15 languages, including all the key languages of the region.

PRK Partners has one of the most experienced legal teams on the market. We are consistently rated as one of the leading law firms in the region. We have received many significant honours and awards for our work. We represent the interests of international clients operating in the Czech Republic in an efficient way, combining local knowledge with an understanding of their global requirements in a business-friendly approach. We are one of the largest law firms in the Czech Republic and Slovakia. Our specialised teams of lawyers and tax advisors advise major global corporations as well as local companies. We provide comprehensive legal advice drawing on our profound knowledge of local law and markets.

Our legal advice delivers tangible results – as proven by our strong track record. We are the only Czech member firm of Lex Mundi, the world's leading network of independent law firms. As one of the leading law firms in the region, we have received many national and international awards, in some cases several years in a row. Honours include the Chambers Europe Award for Excellence, The Lawyer and Czech and Slovak Law Firm of the Year. Thanks to our close cooperation with leading international law firms and strong local players, we can serve clients in multiple jurisdictions around the globe. Our strong network means that we can meet your needs, wherever you do business.

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Our work is not only “business”: we have participated on a longstanding basis in a wide variety of pro bono projects and supported our partners from the non-profit sector (Kaplicky Centre Endowment Fund, Tereza Maxová Foundation, Czech Donors Forum, etc.).

Firm's website: www.prkpartners.com

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