bpv BRAUN PARTNERS assisted Austrian real estate company Immofinanz in one of the largest real estate transactions in the CEE region.

bpv BRAUN PARTNERS advised its client, IMMOFINANZ, on the acquisition of 53 retail properties from CPI Property Group (CPIPG).

The properties, with a total leasable area of 217,000 sqm, are located in the Czech Republic, Poland, Slovakia and Hungary, with bpv BRAUN PARTNERS acting as lead counsel for all of these jurisdictions, given that the largest number of properties in the portfolio is in the Czech Republic – specifically 30 properties with a leasable area of almost 90,000 sqm.

The advisory included legal due diligence on the Czech portfolio, preparation of complete transaction documentation for all jurisdictions and settlement of the transaction, all by a team consisting of partners Miroslav Dudek and Gabriela Špak Porupková, associates Pavlína Tejralová and Filip Baloušek and associate Pavel Březina.

The value of the transaction amounts to EUR 324.2 million (almost CZK 8 billion), making it one of the most significant transactions this year not only in the Czech Republic but also in the whole CEE region. In September 2022, the acquisition of 36 properties in the Czech Republic and Poland with a leasable area of 108,000 sqm was completed. The purchase price for the Czech and Polish part of the property portfolio amounted to EUR 191 million. The purchase of the remaining 17 properties in Hungary and Slovakia is to be completed by the end of 2022.

In addition to bpv BRAUN PARTNERS, the buyer received advice from Penteris (legal advisors for the Polish part of the transaction), HKV (legal advisors for the Slovak part of the transaction), Oppenheim (legal advisors for the Hungarian part of the transaction), TPA (financial and tax advisors), Oterea (technical advisors) and CBRE (commercial real estate services).