08
Mon, Aug
75 New Articles

Taylor Wessing Advises Passerinvest on Prague Office Building Acquisition

Taylor Wessing Advises Passerinvest on Prague Office Building Acquisition

Czech Republic
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Taylor Wessing has advised the Passerinvest Group on its acquisition of the building housing the general headquarters of the Directorate of Roads and Motorways, in the Prague 4 district, from investor Simona Otavova.

Financial details were not disclosed.

The Passerinvest Group, founded in 1991 by Radim Passer, is a Czech development and investment firm experienced in the construction of administrative and commercial buildings as well as residential projects. According to the firm, "with this acquisition, Passerinvest has expanded its portfolio of commercial properties in the Prague 4 and Prague 11 area of interest, in which it has been active as an investor long-term. In Prague 4 alone, the company has invested almost CZK 16 billion, of which CZK 1.6 billion has been invested in non-profit projects that are used by the general public (education, public green spaces, sports and urban infrastructure, security, ecology).

"This transaction confirms that the interest in quality office properties persists despite current economic and other challenges," Taylor Wessing Partner Jakub Adam said. 

"In these times of volatile inflation and interest rates, we have accelerated our strategy of expanding investment in key properties in and around the Brumlovka area. I would like to acknowledge the professional and at the same time very pleasant cooperation with Jakub Adam’s team at TW," Passerinvest Group Development Director Eduard Forejt commented.

Taylor Wessing's team included Partner Jakub Adam and Associates Marek Stradal, Radim Dolezal, and Martin Serak.

Taylor Wessing could not provide additional information on the deal.

Czech Republic Knowledge Partner

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.

PRK Partners has been repeatedly voted among the most socially responsible firms in the category of small and mid-sized firms and was awarded the bronze certificate at the annual TOP Responsible Firm of the Year Awards.

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

Our Latest Issue