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Taylor Wessing Advises Slovofruit on Sale of Industrial Buildings and Land Plots to GURI-REAL

Taylor Wessing Advises Slovofruit on Sale of Industrial Buildings and Land Plots to GURI-REAL

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Taylor Wessing has advised Slovofruit, a Slovak company that is part of Austria's WertInvest real estate group, on the sale of several industrial buildings and land plots in Nove Zamky, Slovakia, to GURI-REAL, s.r.o.. The buyers were reportedly advised by Slovak practitioner Tatiana Timoranska.

The transaction was structured as an asset deal and was closed in September 2016. 

According to Taylor Wessing, "the WertInvest group has been successfully developing real estate since 1993 and has specialized in the revitalization of classic apartment houses in exclusive inner city locations. The portfolio is supplemented by selected and unique real estate development projects. The core business of WertInvest is primarily asset management, real estate development, portfolio investment in Austria, Germany, and the United States."

According to Taylor Wessing Partner Andrej Leontiev, who led the firm’s team on the deal, "our competence and experience in the industrial real estate segment was required to provide comfort and legal certainty to our client during the completion of this transaction. The challenging part was the missing statutory regulation for infrastructure access for real estate owners, mainly at socialist brownfield industrial sites, which were divided among many private owners."

Leontiev was supported by Taylor Wessing Senior Associate Milan Cervenka and Senior Associate Jana Brezinova.

Tatiana Timoranska did not reply to inquiries on the matter.