Dentons Global Real Estate team has acted as legal counsel to Tristan Capital Partners, an international real estate investment manager, on the €523 million sale of a portfolio of 58 warehouses and development land in the Czech Republic to Point Park Properties, Prague-based specialist owner, developer and manager of European logistics properties. The portfolio was sold jointly by Tristan and VGP, JV partners, and forms one of the largest single logistics transactions by value in Europe in the last few years.
The modern asset portfolio in 11 logistics parks totals 627,000 sq.m. of lettable space and also includes 36 hectares of development land, primarily around Prague. At the core of the transaction is VGP Park Horní Počernice, one of the largest logistics parks in the Czech Republic, which VGP has been developing since 2006. Other properties were constructed within the last seven years and are strategically located in key hubs like Plzen, Liberec, Hradec Kralova and Olomouc.
VGP will continue providing property and facility management services to the sold portfolio.
Dentons team was co-led by Robert Lazar, Co-Chair of Dentons’ Global Real Estate and Stewart Middleman, Head of CEE Real Estate, and included a team of international real estate lawyers, which included, among others, Alexandre Poupard, Jennifer Foss and Eleanor Johnson.
Stewart Middleman commented: “We are pleased to have assisted Tristan Capital Partners on what is their largest transaction since Tristan’s establishment five years ago and the biggest single portfolio logistics transaction on the European market recently.”
Robert Lazar added: “Tristan is our long-standing client whom we advise across various jurisdictions and sectors. For the last few years we have successfully assisted Tristan in growing its portfolio representing the client on the acquisition of Nova office building in Warsaw, as well as Praha City Center office building in the Czech Republic.”
Source: www.dentons.com
