BPD Development Divests Prime Prague Land to Daramis
Deal News | Nov 14, 2024 | CEE Legal Matters
BPD Development, a subsidiary of the Czech family office BPD Partners, has sold its development land in Prague to Daramis, a well-established residential developer and investor. The land, located along the Vltava River, is one of the remaining premium sites suitable for high-end development. Clifford Chance acted as the legal advisor to BPD Development, while AK Felix reportedly counseled Daramis. BPD Partners, established in 2011, focuses on several key industries, including real estate, and boasts a significant portfolio of new and renovated residential and office properties. This transaction represents a strategic disposal by BPD Development in the competitive Prague real estate market.
Sectors
- Real Estate
- Legal Advisory
Geography
- Czech Republic – The transaction involves real estate located in Prague, the capital of the Czech Republic.
Industry
- Real Estate – The transaction involves the sale of development land, a key asset within the real estate sector.
- Legal Advisory – Legal advisory services were crucial, with Clifford Chance and AK Felix advising on the transaction.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| BPD Development | Target company | Company | A subsidiary of BPD Partners, focusing on real estate development. |
| BPD Partners | Selling Company | Company | A Czech family office with interests in life science, industrial projects, the energy industry, and real estate. |
| Daramis | Bidding Company | Company | A residential developer and investor with significant experience in the real estate market. |
| Clifford Chance | Legal advisor | Company | Provided legal advisory services to BPD Development for the land sale. |
| AK Felix | Legal advisor | Company | Reportedly advised Daramis in the transaction. |
| Emil Holub | Partner | Person | A partner at Clifford Chance involved in the transaction. |
| Milan Rakosnik | Counsel | Person | A counsel at Clifford Chance involved in the transaction. |
| Petr Sebesta | Counsel | Person | A counsel at Clifford Chance involved in the transaction. |
| Simon Dusek | Associate | Person | An associate at Clifford Chance involved in the transaction. |