Crestyl buys palace in central Prague

Crestyl buys palace in central Prague

Published at: 2017-12-05 10:51 | Author: CIJ Journal
Crestyl has acquired the building located at nam. Republiky 7 from VB Real Estate in a transaction that went through last week. The building is located next to Kotva at the beginning of the pedestrian zone. "We're continuing in our strategy of acquiring unique buildings in lucrative locations," says general director Omar Koleilat. He added that the company's plans for the building are not complete but should be made public within a year. "We definitely want to return the palace to its original splendor and reconstruct it so that it properly represents one of the most important locations in the Czech Republic." Dentons represented Crestyl in the transaction from a legal perspective, while Colliers was engaged on the agency side. The price of the transaction was not revealed.

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