Clifford Chance has advised Finep on the sale of the Novy Opatov G1 residential rental project to REICO CS Nemovitostni.
Finep is a real estate developer with a 23-year history in the Czech real estate market.
According to Clifford Chance, "this landmark deal marks RCSN's first venture into the residential real estate market, diversifying its portfolio, which has traditionally focused on commercial properties. The Novy Opatov location is particularly attractive in terms of accessibility – it is located near the D1 and is also directly on the C metro. The project will feature 170 rental apartments and is set to commence construction in September, with completion expected in 2.5 years."
Earlier in 2024, Clifford Chance advised Finep on the disposal of the Nova Elektra project (as reported by CEE Legal Matters on June 27, 2024) and, in 2023, the firm advised on Finep's sale of the Harfa Project expansion (as reported by CEE Legal Matters on December 20, 2023).
The Clifford Chance team included Counsel Milan Rakosnik and Senior Associate Josef Lysonek.
Clifford Chance was unable to provide further information on the deal.
