Schoenherr Prague has advised Aiga Eastern Europe Investments S.a r.l. ("AIGA") on the sale of Wratislaw Palace, a historical heritage property in Prague, to TTP invest, uzavreny investicni fond, a.s. ("TTP invest"). The financial terms of the transaction were not disclosed. Liska & Sobolova advised the buyers on the deal.
AIGA is a real estate investment entity that develops and manages office and residential projects in the Czech Republic, Poland, and Romania. The company is also active in Spain and Peru where it provides real estate advisory and corporate finance services. TTP invest is a Czech closed-end investment fund focusing on real estate investments in Prague, Central Bohemia, and North Bohemia.
According to Schoenherr, "dating back to the 17th century, the Baroque Wratislaw Palace is an architectural highlight in central Prague, carrying the name of a Bohemian noble family. After undergoing extensive reconstruction and renovation, the palace is now an office building also housing several embassies."
"Prague is well known for its historical buildings, and businesses are also drawn to heritage properties," commented Vladimir Cizek, Local Partner in Schoenherr's Czech corporate m&a practice, who led the firm’s team on the deal. "Wratislaw Palace is a part of Prague's rich history and a cherished location for businesses and diplomatic missions alike."
In addition to Cizek, the Schoenherr team consisted of Attorney Natalie Rosova and Associate Rudolf Bicek.
Liska & Sobolova did not reply to our inquiries on the deal.
