Dentons Prague real estate team has advised Avestus Capital Partners (Avestus), a leading international private equity real estate group, on the sale of the Four Seasons Hotel in Prague to Northwood Investors (Northwood). Avestus has been the asset manager of the hotel since 2001 and is being retained in this role by Northwood.
Four Seasons is a luxury, 5 star hotel located in the city’s Old Town, close to Prague Castle and the Charles Bridge. It unites the styles of four architectural periods – baroque, classical and renaissance, all interconnected by a modern building.
Jiří Stržínek, Partner and Co-Head of Prague Real Estate Group led the team, which included Counsel, Jennifer Foss, and associates. He commented: “We were thrilled to be part of this transaction for such a prime real estate asset as the Four Seasons Hotel. This was the third high-profile transaction in the hotel sector in Prague that Dentons was recently involved in – the others were the sale of the Kempinski and the Intercontinental hotels.”
Avestus is a long-standing client of the Firm. In the past Dentons Prague team advised Avestus on a number of transactions, most recently on the sale of its shares (together with AFI) in a company owning the prime shopping centre Palác Flóra in Prague to Atrium European Real Estate Limited.