The transaction concerns the acquisition of companies BP Budějovická, BP Olbrachtova and BP Poláčkova, which own and manage the administrative buildings forming the current headquarters of Česká spořitelna in close proximity to the Budějovická metro station. Following completion of the transaction, Penta Real Estate and MAT Corporation are to exercise joint control over these companies.
The Budějovická office portfolio acquisition represents an important step in the future redevelopment of one of Prague’s key transport and business locations, with the intention to unlock the long-term potential of the wider area.
Penta entered the real estate sector in 2005 and is today one of the most prominent developers in the Czech Republic and Slovakia. Penta Real Estate currently has more than 40 residential, office, and retail projects in its portfolio, either completed or under development. The company also focuses on the revitalisation of brownfield sites, including, among others, the Masaryčka project in Prague and SKY PARK in Bratislava, both designed by the world-renowned architectural studio Zaha Hadid Architects.
The Clifford Chance Prague Association team advising on the transaction was led by partner Milan Rákosník and associate Šimon Dušek with support from associate Šárka Hrdá, as well as junior lawyers Šimon Pavlas, Matěj Pavlík, Filip Crnčević and Tereza Čacká.