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Reals and Clifford Chance Advise on Redside’s CZK 5 Billion Sale of Nova Real Estate Fund Portfolio to CMN and Nemo Fund

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Reals has advised Redside on the sale of its Nova Real Estate Fund portfolio, comprising 16 retail and office properties in the Czech Republic, to Ceskomoravska Nemovitostni and Nemo Fund. Clifford Chance advised the buyers.

Redside is an investment company managing client assets worth EUR 500 million.

Ceskomoravska Nemovitostni is a real estate group specialized in long-term investments in commercial real estate. Nemo Fund is CMN’s specialized fund that invests in premium office spaces.

According to Reals, the portfolio, valued at approximately CZK 5 billion, represents one of the largest real estate transactions in the Czech market this year.

In 2023, Reals advised on Redside’s sale of the Baumax DIY store (as reported by CEE Legal Matters on April 20, 2023).

The Reals team included Partners Miroslav Dudek and Gabriela Spak Porupkova and Attorney at Law Filip Balousek.

The Clifford Chance team included Partner Emil Holub, Counsels Milan Rakosnik, Tomas Brozek, and Jan Dobry, Senior Associate Josef Lysonek, and Associate Tomas Kubala.

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