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BPV Braun Partners and Kinstellar Advise on Sale of Oasis Florenc Office Building in Prague

BPV Braun Partners and Kinstellar Advise on Sale of Oasis Florenc Office Building in Prague

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BPV Braun Partners has advised European real estate service provider Corpus Sireo on the purchase by its Luxembourg investment fund Dereif Immobilien of the Oasis Florenc office building in the center of Prague. Kinstellar advised the unidentified sellers on the deal. Financial terms were not disclosed.

Corpus Sireo is a real estate service provider which operates as a fund and asset manager, investor, and project developer in Germany and other European countries. It also acts as a co-investment partner for pan-European real estate investments. The company employs approximately 530 staff at 11 locations in Germany and Luxembourg, and is an independent business unit of Swiss Life Asset Managers. With companies in Switzerland, France, and Germany, Swiss Life Asset Managers manages real estate assets with a total value of more than EUR 67 billion.

According to BPV Braun Partners, "the Oasis Florenc office building is the new flagship development at the very heart of Prague’s central business district, which [offers the] benefits of a city center location, but also offers stunning external landscaped areas for all tenants who can take a break from work and relax in tranquil surroundings. It is located on the eastern edge of the city center in an established business location, measuring 18,700 square meters, leased to high-profile companies such as J&T Services, Eli Lilly, Wolf Theiss, and Cisco Systems. In addition to a shopping arcade with retailers and catering, the property entails underground parking with 141 parking spaces and a generous green space for outdoor leisure activities."

The acquisition of the Oasis Florenc building is Corpus Sireo's second acquisition in the region in recent weeks, following its September 2017 acquisition of the Eiffel Palace building from the National Bank of Hungary (as reported by CEE Legal Matters on September 7, 2017).

The BPV Braun Partners team was led by Partner Jiri Barta, assisted by Managing Associate Michal Hrabovsky, Attorney Jan Junger, Senior Associates Ondrej Ponistiak and Marketa Nesetrilova, and Associates David Plevka and Nikola Neumanova.

The Kinstellar team was led by Partner Klara Stepankova and Jan Juroska and included Associate Rudolf Schichor and Junior Associate Michal Matous.

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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.

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