European law firm Schoenherr has advised Deka Immobilien on the 40 million acquisition of Jungmannova Plaza, an office complex in the center of Prague. The acquisition is one of the first successful property transactions in the Czech Republic this year.
Deka has acquired the Jungmannova Plaza in Prague.
Deka, the largest operator of German open-ended property funds, purchases the complex from Austrian real estate investor Immoeast AG. The prominent façade of the modern complex is a protected historical monument, while the four newly built parts (2004) border the Franciscan garden. Currently the 10,300 m² complex is fully occupied, with tenants including: ABN Amro; the European Parliament; Johnson & Johnson; Patria Corporate Finance and several law firms.
Schoenherr entered the Czech market in January this year after taking over the Prague office of Gleiss Lutz. "This transaction marks the successful start of Schoenherr in the Czech Republic and promises a lot of good fortune for the future," according to real estate partner Walter Anderl. Anderl led the deal together with junior partners Rudolf Rentsch (Prague), and Maximilian Cabjolsky (Vienna).