Clifford Chance has advised Komercni Banka on the financing of Penta Real Estate’s acquisition of CSAD Praha Holding.
The financing syndicate also included Ceska Sporitelna and the Raiffeisen Group.
Penta Real Estate was formed by separating the real estate division from the company Penta Investments, whose origins date back to 1994. Penta Group entered the real estate sector in 2005. At present, its portfolio includes more than 35 projects in the commercial, residential, and retail sectors.
According to Clifford Chance, “the transaction, which involves the purchase of prime parcels in Prague, marks a significant move in the real estate development sector. While the purchase price remains undisclosed, the deal encompasses strategically significant land, such as Karlin, Smichov, Zlicin, and other areas in the city center.”
"We are committed to supporting big and transformative initiatives that contribute to the development and growth of the real estate sector,” commented Komercni Banka Real Estate Finance Transaction Manager Ales Novak. “This collaboration aligns with our dedication to fostering innovation and sustainable progress in the industry."
The Clifford Chance team included Counsel Milan Rakosnik, Senior Associate Hana Cekalova, Associates Josef Lysonek and Jan Christelbauer, and Junior Associates Ondrej Steco, Simon Dusek, Simon Vanek, and Adam Fanta.
Clifford Chance could not provide additional information on the deal.