Clifford Chance's Prague office has advised CBRE Global Investors, a Fortune 500 real estate company with offices in more than 64 countries worldwide, on the sale of its high-quality retail portfolio in Central and Eastern Europe to CPI Property Group (CPI). Dentons advised CPI on the transaction, which is valued at over EUR 600 million and will see properties including 11 shopping centers change hands across the Czech Republic, Poland, Hungary, and Romania.
This transaction between CPI and CBRE Global Investors is subject to the approval of the antitrust authorities in the countries concerned, with the deal expected to close during the first quarter of 2017. Once concluded, according to Clifford Chance, it will be one of the biggest retail real-estate transactions ever to have been completed in the region.
The Prague-based Clifford Team team coordinated the work of Clifford Chance offices in Poland and Romania and a partner law firm in Hungary as well. The team was led by experienced real-estate Partner Emil Holub supported by Associate Aneta Sosnovcova.
The Dentons team was led by Partner Evan Lazar, Co-Chairman of the firm's Global Real Estate Group, supported by Partners Stewart Middleman and Counsel Marketa Tvrda in Prague. Dentons lawyers based in London, Budapest, Warsaw, and Bucharest also worked on the deal, including Partners Judit Kovari, Monika Sitowicz, Perry Zizzi, and Bogdan Papandopol, Of Counsel Marcell Szonyi, and Senior Associate Lukasz Zwiercan, among others.
Editor's Note: After this article was published, the Szecsenyi and Partners law firm informed CEE Legal Matters that it had worked alongside Clifford Chance in advising on the Hungarian part of the transaction. The firm's team was led by Daniel Kellner.