Global law firm White & Case LLP has advised REICO investiční společnost České Spořitelny, a.s. (REICO IS ČS), acting on behalf of ČS nemovitostní fond (ČSNF), the largest and oldest Czech open-ended real estate investment fund, on the acquisition of the Galeria Słoneczna in Radom.
REICO IS ČS, a joint-stock company which manages open real estate investment funds, and White Star Real Estate signed the €164 million agreement for the sale of the shares in the company that owns the Radom shopping center on September 26, 2017. The transaction, which is one of the largest commercial real estate transactions in Central & Eastern Europe during 2017, expands the fund's presence in the region and is an element in the diversification of its portfolio.
"Our broad real estate capabilities in Central & Eastern Europe, combined with the Firm's global presence and know-how, ensured we were ideally-placed to advise REICO IS ČS on another transaction that supports its further expansion in the CEE region," said Prague-based White & Case partner Petr Panek, who led the Firm's deal team.
"The Prague and Warsaw teams of White & Case have provided invaluable service in screening and managing various legal and market risks within this strategic acquisition," said Tomáš Jandík, REICO IS ČS Chief Investment Officer. "The acquisition of Galeria Słoneczna represents a dominant retail allocation and improved diversification of our geographical and asset class risk exposures for our unit holders."
The White & Case team in Warsaw and Prague which advised on the transaction included partner Petr Panek (Prague), local partners Michał Matera and Maciej Zalewski (both Warsaw), and associates Katarzyna Czwartosz-Liber, Michał Plich, Jędrzej Pałka, Aneta Urban, Iwo Małobęcki (all Warsaw) and Karel Petrzela (Prague).
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