Clifford Chance has advised Generali Real Estate, one of the world's leading real estate asset managers and part of Generali Group, on acquisition of two office buildings in Prague from CPI Property Group.
The buildings are located in the dynamic business district of Pankrác and span 37,700 square meters of office space. They have been Generali Group's headquarters for Central and Eastern Europe since 2008 and have been adapted to a hybrid working model in the last two years in order to ensure flexibility and work safety of the employees. The properties will undergo extensive refurbishment to minimise its carbon footprint by reducing energy consumption and increasing the use of renewable energy resources and smart technologies.
The acquisition is in line with the Generali Real Estate's strategy to invest into high-quality assets in major European capital cities and strengthen the leading position of the firm within Central and Eastern European region.
The Clifford Chance team was led by Prague Real Estate Partner Emil Holub and Counsel Milan Rákosník, supported primarily by Associate Josef Lysoněk.