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.