Clifford Chance Real Estate team advised Heimstaden Bostad AB, leading residential property company in the Nordic countries, on the acquisition of the RESIDOMO residential portfolio. The acquired portfolio is mainly located in the Moravia-Silesia region and consists of more than 42,000 residential units - it is by far the largest one in the Czech Republic.
The agreed purchase price on asset level amounts to approx. EUR 1.3 billion, making the acquisition the largest real estate transaction ever in the Czech Republic. The transaction was financed through a mix of debt and equity.
Emil Holub, Real Estate Partner, commented: "We are delighted to have the opportunity to work on such dynamic transaction and witness Heimstaden entering the CEE region in quite a big style".
"It has been both a pleasure and, even more importantly, very comforting to have Clifford Chance in the driving seat of this transaction, which has by no means been simple and involved us getting comfortable with a completely new jurisdiction. Clifford Chance team has really surpassed our expectations in all aspects up till now," commented Christian Fladeland, CIO of Heimstaden, on the Clifford Chance Prague performance.
The Clifford Chance team was led by Prague Real Estate Partner Emil Holub and Senior Associate Milan Rákosník, supported primarily by Associates Josef Lysoněk and Tereza Řehořová. The client was further supported by Clifford Chance London team on structuring the funding for the transaction.