Global law firm White & Case LLP advised J&T BANKA, a.s. on the financing of WOOD & Company's acquisition of an apartment complex in Písnice in Prague, the Czech Republic's largest residential transaction of the year to date.
"The acquisition of the Písnice portfolio provides a strong foundation for the long-term revitalization of an established Prague neighbourhood, combining investment in existing housing with a clear vision for sustainable future development," said White & Case partner Jan Linda, who led the Firm's deal team.
WOOD & Company, through its newly established fund, WOOD & Company City – otevřený podílový fond, acquired the apartment complex from CIB GROUP. The complex comprises of approximately 760 apartments in Prague's Písnice district.
This transaction supports the long-term revitalization and development of Písnice. The planned development includes the phased refurbishment of existing apartment buildings, energy-efficiency improvements, enhancements to public spaces and the thoughtful construction of new residential buildings. The objective is to create a modern, sustainable neighbourhood that integrates established housing with future development and the local community.
SATPO Group will develop the existing housing stock under its City Home brand, focusing on property management, rental housing and gradual revitalization. WOOD & Company is participating in the project as an investment partner through its WOOD & Company City – otevřený podílový fond.
The White & Case team in Prague which advised on the transaction was led by partner Jan Linda, with support from partner Tomáš Jíně and associate Jakub Kopáček.
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