Schoenherr has advised Erste Group Immorent AG ("Erste Group Immorent") on the sale of Immorent Jilska s.r.o. ("Immorent Jilska"), which owns the landmark office building ENTERPRISE, to Starship Enterprise a.s. ("Starship Enterprise"). The purchase price totalled approx. CZK 3bln (over EUR 110m), and the closing took place on 14 November 2016.
"ENTERPRISE is a landmark building in the Prague 4 business district, which is one of the most sought-after office locations in the Czech capital. One of the largest high profile deals in the Czech real estate market this year, ENTERPRISE showcases the continuous demand for premium office properties in Prague," said Schoenherr real estate partner Peter Madl.
The twelve-storey ENTERPRISE office centre offers approx. 29,000 m2 of leasable area and 400 parking spaces. The core tenants are Avast Software and CSC Computer Science. Built and developed by Erste Group Immorent to be an environmentally friendly Class A office space, ENTERPRISE is an award-winning architectural highlight in the coveted business district. ENTERPRISE has received the prestigious international BREEAM Excellent Certificate, which confirms the office centre's high environmental and energy saving standards.
Erste Group Immorent provides real estate financing and project development services in Central, Eastern and South-Eastern Europe. The services offered by Erste Group Immorent range from the construction to the sale of properties, and also include a wide variety of financing solutions for real estate projects.
The purchaser, Starship Enterprise is a joint venture between RSJ Private Equity investicni fond s promennym zakladnim kapitalem, a.s. and two private investors, Pavel Baudis and Eduard Kucera, co-founders of Avast Software B.V..
The Schoenherr team advising Erste Group Immorent consisted of Peter Madl (partner, Vienna; real estate), Miroslav Dudek (attorney at law, Prague; real estate) and Jakub Karfilat (associate, Prague; real estate).
Starship Enterprise was supported by the law firm Wilson & Partners. Tax advisers were TPA Horwath while Arcadis provided technical support.
