Dentons Global Real Estate team has acted as legal counsel to Tristan Capital Partners, an international real estate investment manager, on the €523 million sale of a portfolio of 58 warehouses and development land in the Czech Republic to Point Park Properties, Prague-based specialist owner, developer and manager of European logistics properties. The portfolio was sold jointly by Tristan and VGP, JV partners, and forms one of the largest single logistics transactions by value in Europe in the last few years.
The modern asset portfolio in 11 logistics parks totals 627,000 sqm of lettable space and also includes 36 hectares of development land, primarily around Prague. At the core of the transaction is VGP Park Horní Počernice, one of the largest logistics parks in the Czech Republic, which VGP has been developing since 2006. Other properties were constructed within the last seven years and are strategically located in key hubs like Plzen, Liberec, Hradec Kralova and Olomouc.
VGP will continue providing property and facility management services to the sold portfolio.