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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

Czech Republic

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.

Czech Republic Knowledge Partner

For more than 25 years PRK Partners has been providing top tier, comprehensive legal services in all areas of law – always at the highest professional level. The company’s offices in Prague, Ostrava and Bratislava, as well as its specialised teams of legal practitioners and tax advisors, allow PRK Partners to offer solutions to any kind of legal issues, providing an international point of view and in-depth knowledge of the respective local legal system.

The full-service law firm has worked on many of the region’s largest and most complex transactions. The firm puts emphasis on the highest standards of quality, efficiency and flexibility in its advisory services, which are tailored to the specific requirements of each client. 

Our team is composed of professionals with international education and experience. The firm frequently works on a non-exclusive basis with leading international law firms on large cross-border transactions.

PRK Partners is consistently recognised among the top law firms by leading international and domestic directories and ratings agencies and has been honoured with numerous awards: 

• National Law Firm of the Year 2016 by the Chambers Europe Awards, the most prestigious international law firm competition. This is the fifth award PRK Partners has received since the awards were first given; National Law Firm of the Year 2014, 2013 and 2010 and Law Firm of the Year 2012 for Best Client Service.

• 2018 Best Law Firm of the Year in the category of Banking &Finance and the absolute winner in the main category of the Domestic Law Firm of the Year awards organised by epravo.cz under the auspices of the Czech Bar Association three times since the award's inception (in 2016, 2013 and 2011).

• a finalist of the Central European Law Firm of the Year category in The Lawyer European Awards 2018. 

The firm has a strong commitment to corporate social responsibility and pro bono work.

PRK Partners is the exclusive member firm in the Czech Republic for Lex Mundi, the world’s leading network of independent law firms, with in-depth experience in 100+ countries worldwide. In addition, the firm is a member of Celia Alliance, AFI (Association for Foreign Investment) and CVCA (the Czech Private Equity and Venture Capital Association).

Firm's website: www.prkpartners.com

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