Global law firm White & Case LLP has advised REICO investicni spolecnost Ceske Sporitelny, a.s. (REICO IS CS), acting on behalf of CS nemovitostni fond (CSNF), the largest and oldest Czech open-ended real estate investment fund, on the acquisition of the Galeria Sloneczna in Radom.

REICO IS CS, a joint-stock company which manages open real estate investment funds, and White Star Real Estate signed the EU164 million agreement for the sale of the shares in the company that owns the Radom shopping center on September 26, 2017. The transaction, which is one of the largest commercial real estate transactions in Central & Eastern Europe during 2017, expands the fund's presence in the region and is an element in the diversification of its portfolio.

"Our broad real estate capabilities in Central & Eastern Europe, combined with the Firm's global presence and know-how, ensured we were ideally-placed to advise REICO IS CS on another transaction that supports its further expansion in the CEE region," said Prague-based White & Case partner Petr Panek, who led the Firm's deal team.

"The Prague and Warsaw teams of White & Case have provided invaluable service in screening and managing various legal and market risks within this strategic acquisition," said Tomas Jandik, REICO IS CS Chief Investment Officer. "The acquisition of Galeria Sloneczna represents a dominant retail allocation and improved diversification of our geographical and asset class risk exposures for our unit holders."

The White & Case team in Warsaw and Prague which advised on the transaction included partner Petr Panek (Prague), local partners Michal Matera and Maciej Zalewski (both Warsaw), and associates Katarzyna Czwartosz-Liber, Michal Plich, Jedrzej Palka, Aneta Urban, Iwo Malobecki (all Warsaw) and Karel Petrzela (Prague).