The Real Estate Transaction Team of CHSH led by Mark Krenn advised SES Spar European Shopping Centers, Austrian shopping center developer and manager, with respect to the establishment of a joint-venture with Czech investors EBK and Proxy Finance regarding the shopping center EUROPARK Prague. EPI, whose main investor is Czech company DBK, at the same time acquired a majority stake in the shopping center from SES.
EUROPARK Prague is located next to the Prague inner city ring road benefiting from excellent visibility and a well-balanced tenant mix with more than 60 brands. Besides its hypermarket anchor, Albert, and DIY store, OBI, EUROPARK’s key occupiers include Hervis, H&M, Notino, Takko Fashion, Neoluxor Books, C&A, CCC, Humanic and DM drogerie markt.
The transaction was closed in April 2019.
Mark Krenn: „A complex structure for the establishment of the Joint Venture as well as a very tight time frame created a particularly challenging environment. The successful closing in-time impressively proved our seamless capabilities in cross-border transactions in the CEE Region” - said Mark Krenn, Head of CHSH's CEE Real Estate Practice.
Advisors to SES:
CHSH Vienna: Mag. Mark Krenn (Lead Partner, Real Estate Transactions), Dr. Thomas Zivny (Partner, Financing), Mag. Heinrich Foglar-Deinhardstein (Partner, Corporate), Mag. Filip Ballok (Senior Associate, Real Estate Transactions), Ivett Szauftmann (Senior Associate, Real Estate Transactions), Mag. Edda Unfricht (Associate, Real Estate Transactions).
CHSH Czech Republic: David Kucera (Partner), Matěj Bolek (Senior Associate).