Kinstellar has advised the Helaba bank on financing for the EUR 48 million acquisition of the Florenc Office Center in Prague by Korea’s Shinhan Investment Corp. The sellers, ZFP Investments, were advised by Havel & Partners.
Kinstellar describes the transaction as "the first direct real estate investment in the Czech Republic by a Korean investor."
Shinhan Investment Corporation operates as a securities brokerage and investment banking company. It provides securities trading, wealth management, investment banking services, and offers merger and acquisition, investment trust, and corporate financing services.
Florenc Office Center, commonly known as the KPMG HQ building, is an office property located in the center of Prague. Originally developed by AIG Lincoln, the building was completed in 2003. The property has an area over 11 thousand square meters, ten floors, three underground floors, and 168 parking spaces.
ZFP Real Estate Fund acquired the property in March 2014. ZFP Investments is an independent investment company which was created by a merger of two companies operating on the Czech and Slovak financial markets: ZFP Akademie and IAD Investments. ZFP Academy is an educational and intermediary company in the field of finance and IAD Investments is a Slovak management company which has been active in Central Europe for more than 25 years.
The Kinstellar team was led by Partner Klara Stepankova and Managing Associate Leo Javorek.