Clifford Chance

Clifford Chance advised G City Europe on the disposal of Arkády Pankrác shopping centre

Clifford Chance provided legal advice to G City Europe Limited, a leading owner and operator of shopping centres and residential rental properties in Central Europe, regarding the sale of Arkády Pankrác shopping centre to a Czech real estate fund Trigea from the Partners group.

Arkády Pankrác, a major shopping centre in Prague, Czech Republic, spans 38,700 sqm of retail GLA and 1,030 sqm of office GLA, with parking for 1,100 cars. Connected to an existing metro stop, the centre boasts a high 96% occupancy rate.

Clifford Chance maintains a strong and ongoing relationship with G City, advising on various transactions, including the acquisition, and financing of Arkády Pankrác in previous instances.

The legal team advising G City on the transaction was led by counsel Milan Rákosník and supervised by partner and head of real estate Emil Holub. The team further consisted of associate Josef Lysoněk, junior associate Šimon Dušek and other cross-practice colleagues.

Evaristo Páez Rasmussen, Chief Investment Officer of G-City EU, said: “Another successful transaction wonderfully managed by Clifford Chance’s outstanding Prague team. We have been working together for more than 13 years and have transacted EUR 1.1 bln to date in Czech Republic and Slovakia. Outstanding performance.”