Czech Republic: Schoenherr advised AIGA on sale of Wratislaw Palace

13 October 2016 | deal news

Schoenherr Prague has advised Aiga Eastern Europe Investments S.á r.l. ("AIGA") on the sale of Wratislaw Palace, a historical heritage property in Prague, to TTP invest, uzavřený investiční fond, a.s. ("TTP invest"). The financial terms of the transaction will not be disclosed.
"Prague is well known for its historical buildings, and businesses are also drawn to heritage properties. Wratislaw Palace is a part of Prague's rich history and a cherished location for businesses and diplomatic missions alike," commented Vladimir Cizek, local partner in Schoenherr's Czech corporate/m&a practice.
Dating back to the 17th century, the Baroque Wratislaw Palace is an architectural highlight in central Prague, carrying the name of a Bohemian noble family. After undergoing extensive reconstruction and renovation, the palace is now an office building also housing several embassies.
AIGA is a real estate investment entity that develops and manages office and residential projects in the Czech Republic, Poland and Romania. The company is also active in Spain and Peru where it provides real estate advisory and corporate finance services. TTP invest is a Czech closed-end investment fund focusing on real estate investments in Prague, Central Bohemia, and North Bohemia.
The Schoenherr team advising AIGA was comprised of Vladimir Cizek (local partner, Corporate/M&A), Natalie Rosova (attorney at law, banking, finance & capital markets) and Rudolf Bicek (associate, Corporate/M&A).
TTP invest was advised by Czech law firm Liška & Sobolová.