CHSH advised SES Spar European Shopping Centers on the establishment of a Joint Venture regarding Shopping Center EUROPARK Prague
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).