The Sekyra Group has sold Prague’s Opatov II residential project – consisting of 307 rental apartments – to Dostupne Bydleni Ceske Sporitelny, a.s. (a part of Erste Group AG) and Kooperativa Pojistovna, a.s. (a part of Vienna Insurance Group AG).
“Seeing this transaction through to closing after more than two and a half years from the initial negotiations is incredibly rewarding,” Tomas Kren, Counsel at the Wolf Theiss law firm, which advised the Sekyra Group on the deal. “This was far from a standard real estate deal – its forward structure, as well as having two counterparties, added significant complexity. We were deeply involved in shaping the post-closing framework, including long-term lease arrangements and development coordination. It’s a privilege to have supported our client on one of the few affordable rental housing projects of this scale in the Czech Republic. We’re grateful for the trust placed in us and for the constructive and professional cooperation with all parties involved.”
The Sekyra Group has been operating in the Czech real estate market for more than twenty-five years and is currently developing projects spanning a total area of over 1 million square meters with a total value of 100 billion Czech crowns. Its projects are focused on expansive and developing urban districts such as Smíchov City, Rohan City and Zizkov City. It has also developed several of Prague’s more prestigious buildings, including the headquarters for Ceska Sporitelna, Nestlé, T-Mobile, and Skanska, as well as the National Technical Library. Additionally, the group has built or renovated approximately 10,000 apartments and is also a founding partner of the non-profit Czech Green Building Council.
Image source: www.praha11.cz
