Redside's Major Real Estate Sale: CZK 5 Billion Portfolio to CMN and Nemo Fund
Deal News | Jan 06, 2025 | CEE Legal Matters
Redside, an investment company managing EUR 500 million in assets, successfully concluded the sale of its Nova Real Estate Fund portfolio to Ceskomoravska Nemovitostni and Nemo Fund. The transaction, encompassing 16 retail and office properties valued at approximately CZK 5 billion, marks one of the largest real estate deals in the Czech Republic during 2023. Legal advisory was provided by Reals for the seller and Clifford Chance for the buyers. This transaction follows Reals' advisory on the previous sale of the Baumax DIY store earlier in the year.
Sectors
- Real Estate
- Legal Services
- Investment Management
Geography
- Czech Republic – The transaction takes place in the Czech Republic, involving local firms and properties.
Industry
- Real Estate – The article focuses on the sale of a significant real estate portfolio, involving commercial office and retail properties.
- Legal Services – Reals and Clifford Chance provided legal advisory for the transaction, highlighting the role of legal services in M&A activities.
- Investment Management – Redside manages substantial client assets and is involved in investment management through real estate transactions.
Financials
- CZK 5 billion – Value of the Nova Real Estate Fund portfolio sold by Redside.
- EUR 500 million – Assets managed by Redside.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Redside | Target Company | Company | An investment company managing significant assets, orchestrating the sale of its real estate portfolio. |
| Ceskomoravska Nemovitostni | Buying Company | Company | A real estate group specializing in commercial real estate investments. |
| Nemo Fund | Buying Company | Company | Specialized fund under CMN, focusing on premium office space investments. |
| Reals | Legal Advisor to Seller | Company | Provided legal advisory services for Redside in the transaction. |
| Clifford Chance | Legal Advisor to Buyer | Company | Provided legal advisory services for CMN and Nemo Fund. |
| Miroslav Dudek | Partner | Person | Part of the Reals team advising on the transaction. |
| Gabriela Spak Porupkova | Partner | Person | Part of the Reals team advising on the transaction. |
| Filip Balousek | Attorney at Law | Person | Part of the Reals team advising on the transaction. |
| Emil Holub | Partner | Person | Part of the Clifford Chance team advising on the transaction. |
| Milan Rakosnik | Counsel | Person | Part of the Clifford Chance team advising on the transaction. |
| Tomas Brozek | Counsel | Person | Part of the Clifford Chance team advising on the transaction. |
| Jan Dobry | Counsel | Person | Part of the Clifford Chance team advising on the transaction. |
| Josef Lysonek | Senior Associate | Person | Part of the Clifford Chance team advising on the transaction. |
| Tomas Kubala | Associate | Person | Part of the Clifford Chance team advising on the transaction. |