International law firm Salans has advised AFI Europe, a real estate investment and development company operating in Central Eastern and South Eastern Europe, on the sale of its Tulipa Vokovice project in the Czech Republic to the Daramis Group.
AFI Europe is part of the Africa Israel Group (AFI Group) one of Israel's largest real estate, construction and infrastructure corporations, which has been engaged in real estate development since 1934 and is a developer of large scale properties in many countries.
The sale concerned a plot of land designed for residential usage located in Prague 6 near the natural park Divoká árka, Prague, Czech Republic.
Going forward, AFI Europe is looking to expand its portfolio mainly by developing their existing land bank for commercial and residential purposes.
The Salans team advising AFI Europe was led by Prague based Partner Jiri Strzinek and Counsel Daniel Hurych, who were supported by Associate Jana Zelechovska.
Doron Klein, CEO of AFI Europe Czech Republic, praised the Salans team for their continued support and professional work.
Evan Z. Lazar, Co-Chairman of Salans' Global Real Estate Group, said: "We are delighted to have advised AFI Europe on the sale of its Vokovice Project. The transaction is a positive example of the sophisticated legal advice that our real estate and banking and finance lawyers provide to our investor developer clients."