Clifford Chance has advised investment management firm Aberdeen Asset Management Deutschland on the sale of business centre Palac Andel in Prague's Smichov-Andel district for EU57.8 million. The new owner of this 14 630 sq. m modern administrative building is LaSalle Investment Management, the global real estate investment company; the acquisition was made via its open European-owned real estate fund LaSalle E-REGI.

Palac Andel was finalised in 2002 and consists of six above-ground and two underground floors, parking spaces and storage. Almost 80% of the premises represent office space, with 15% dedicated to retail; the property is nearly fully leased. Tenants include Pfizer, H&M, and Toyota.

The Clifford Chance team in Prague advising on the transaction was led by partner Emil Holub, head of the office's real estate practice, supported by newly promoted senior associate Aneta Sosnovcova.