Clifford Chance has advised CA Immobilien Anlagen AG on its EUR 68 million acquisition of Visionary, an A-class office building in Prague. The seller, Skanska, was represented by Dentons.
The Visionary project was completed in April 2018 and features 23,000 square meters of gross leasable area. Located in Prague 7, which Clifford Chance describes as "one of the most dynamically developing districts in Prague,” the building is currently around 91% occupied with tenants such as Accenture, Business Link, and WMC/ACTUM Digital.
On closing the transaction, Ingo Steinwender, Group Head of Legal Affairs of CA Immo, commented: "Following the purchase of the office complex Campus 6.1 in Bucharest earlier this year, the acquisition of this landmark building in the emerging district Prague 7 – (Holesovice), with great future development potential, is the next step in the expansion of our CEE core portfolio."
The Clifford Chance team advising on the transaction was led by the Prague office's Head of Real Estate Emil Holub, with Senior Associate Milan Rakosnik acting as executive lawyer. The team also included Junior Associates Josef Lysonek and Matej Kucera.
Dentons’ Prague team included Partners Jiri Strzinek and Marketa Tvrda and Associate Jakub Karfilat.