Kinstellar has advised Cura Vermoegensverwaltung on its exit from the Arkady Pankrac-ownership joint venture with G City Europe. Clifford Chance reportedly advised G City Europe.
"The joint venture pertained to the ownership of Arkady Pankrac, a premium shopping center with a focus on fashion, located in one of Prague's most prominent business and residential districts," Kinstellar informed.
Cura Vermoegensverwaltung is a German asset manager.
G City Europe, formerly Atrium European Real Estate, is a community shopping center and residential estate owner, operator, and redeveloper in Central Europe.
The Kinstellar team included Partner Karla Rundtova, Managing Associate Adam Nemec, and Junior Associate Paul Valka.
Editor's Note: After this article was published, Clifford Chance confirmed it had advised G City Europe on its acquisition of the remaining 25% stake in the Arkady Pankrac shopping center and the subsequent EUR 112 million financing of the project from UniCredit Bank Czech Republic and Slovakia. The firm's team was led by Partners Emil Holub and Milos Felgr and Counsel Milan Rakosnik and included Senior Associate Tereza Rehorova, Associate Josef Lysonek, and Junior Associate Simon Dusek.