Dentons and Simpson Thacher represented Round Hill Capital and Blackstone Tactical Opportunities on the sale of a €1.3 billion residential real estate portfolio in the Czech Republic to Swedish real estate company Heimstaden Bostad AB. The deal is expected to close in Q1 2020 subject to regulatory approvals.
The portfolio, owned and operated by RESIDOMO, is the largest privately held residential portfolio in the Czech Republic. It consists of approximately 4,515 assets with 42,584 residential units and 1,675 commercial units in the city of Ostrava and surrounding Moravia-Silesia region.
Funds advised by Round Hill Capital and Blackstone Tactical Opportunities acquired the portfolio in 2015, and have since made significant investments into maintenance, refurbishment and additional services for tenants. Dentons also advised on the 2015 acquisition.
Evan Lazar, Co-chair of Dentons’ global Real Estate group, led Dentons team along with partners Stewart Middleman and Markéta Tvrdá, all based in the Prague office.