Clifford Chance advises Českomoravská nemovitostní on major real estate acquisition of 16 commercial properties
The Prague office of Clifford Chance successfully represented Českomoravská Nemovitostní (ČMN) and NEMO Fund in the acquisition of a high-value portfolio comprising 16 commercial properties. This transaction, one of the largest in the Czech real estate market this year, involves assets valued in the billions of CZK. Clifford Chance provided comprehensive legal advisory, including transaction structuring, negotiation of sale agreements, due diligence, refinancing of current banks and acquisition financing from Helaba, ensuring a seamless acquisition process.
The acquired portfolio includes prominent office properties such as Smíchov Gate, Panorama Business Center, Anděl 16 and Anděl 17 in Prague 5 to name a few and a number of retail properties leased to Ahold, Tesco, OBI or Penny Market. Located in prime areas, these high-profile office spaces and retail canters boast strong tenant occupancy, reinforcing their strategic importance to ČMN’s growing investment portfolio. This acquisition reflects ČMN’s ongoing expansion in the commercial real estate sector, strengthening its market footprint and enhancing its long-term growth strategy.
ČMN is a leading player in the Czech real estate market, recognized for acquiring high-quality, revenue-generating assets. Over just several years on the market, CMN has grown to become a well-established player on the Czech real estate market and secured strategic cooperation with foreign banks. CMN manages over 3% of the total office area in Prague. The properties that it selects for its portfolio meet the highest construction standards, including the necessary green certifications. The company´s long-term goals also include maintaining a balance between economic success, environmental protection and social aspects.
The seller, the fund management company REDSIDE, provides institutions and individual investors with first-class investment solutions and specialist knowledge in the dynamically developing market of alternative investment funds, where it offers both own investment solutions in the form of own investment funds and space and know-how to solutions of other investment plans. REDSIDE is responsible for managing clients’ assets worth EUR 500 mil.
The Clifford Chance team managing this transaction and its financing was led by partner Emil Holub and counsel Milan Rákosník, supported by key senior associate Josef Lysoněk. Financing covered by Milan Rákosník and associate Tomáš Kubala. The team further consisted of counsel Jan Dobrý for competition and merger control aspects, Tomáš Brožek for insolvency aspects. The team was further backed by associates Šimon Dušek, Jan Christelbauer, Ondřej Dolenský, Tomáš Procházka and Nikola Svobodová and junior lawyers Šimon Pavlas, Petr Ryšina, Natálie Kurková and Simona Beltran.