CMS has advised Revetas on the successful disposal of the remaining assets of its Revetas Capital Fund II’s Project Papa office portfolio in Prague to Ceskomoravska Nemovitostni. White & Case advised CMN on the deal.
According to CMS, “Revetas sold the three remaining buildings with a total gross leasable area of approximately 33,000 square meters, located in close proximity of each other in the Karlin neighborhood of Prague’s 8th district.”
As reported by CEE Real Estate Matters, one of the four assets initially comprised in the portfolio, BBC Vila, had previously been sold to the Passerinvest Group. The three remaining buildings are located in close proximity of each other in the Karlin neighborhood of Prague’s eighth district and were acquired by local real estate group Ceskomoravska Nemovitostni. Of the three buildings, one was the Corso Karlin building, initially built as an industry hall in 1890 and was subsequently repurposed to office use by architects Ricardo Bofill Levi and Jean Pierre Carniaux. The two other assets, Apeiron and Zirkon, were designed by the Czech architect Vaclav Aulicky.
CMS’s team included Partner Libor Prokes and Lawyers Pavel Srb, Ivana Lobotkova, and Andrea Haushalterova.
White & Case's team included Partners Petr Panek and Vaclav Kubr, Local Partners Karel Petrzela and Tomas Scerba, and Associates Barbora Vaculova, Lucie Zanaskova, and Petra Zunova.