CMS has advised Invesco Real Estate on the sale of shopping centre Varyada in Karlovy Vary, Czech Republic, to European Property Group.

Varyada shopping centre was opened in 2005 and consists of ca. 18,000 sqm of retail space with an Albert hypermarket as anchor tenant and houses an additional 65 retailers. The shopping centre is located in the Czech spa town of Karlovy Vary.

Established in 1983, Invesco Real Estate is a global real estate firm, which provides real estate investment and property asset management services in the US, Europe and Asia. It is the real estate investment management arm of New York-listed Invesco Ltd., and has USD 65.1bn of assets under management in direct real estate and publicly-traded real estate securities, and over 410 staff in 20 offices around the world.

The CMS Prague team advising Invesco was led by partner Lukas Hejduk and further comprised of Michal Samek and Petr Koral.