Dentons has advised Starwood Capital Group on the purchase by an affiliate of the firm of “the PARK” business complex in Prague, Czech Republic from Aberdeen Asset Management Deutschland AG. Terms of the transaction were not disclosed.

The Park, comprising 116,000 square meters of leasable area across 12 buildings, is an ideally positioned office park located in Prague’s Chodov district. With construction completed in 2008, the property is currently 99 percent leased. Current tenants include many well-known multi-national organisations including DHL, IBM, Honeywell, SONY, Accenture and Dell. Starwood Capital Group was supported by a team of Dentons real estate professionals led by Partners Evan Lazar and Jiri Strzinek.

Evan Lazar, Co-Chair of Real Estate for Dentons Europe, said: “We are honored that Starwood Capital Group came to Dentons for their first major investment in the CEE region due to our depth our real estate M&A of experience in both the local market and CEE region. It is a sign of confidence in our new global real estate platform which now has over 600 real estate professionals worldwide.”

Jiri Strzinek, Co-Head of Dentons’ Czech Republic Real Estate Group, commented: “We advised Starwood on all aspects of this transaction, from comprehensive due diligence to transactional documents, and financing and the many other key aspects required for this transaction. The PARK has never been sold as a single unit - until now - so this is by far the biggest transaction in the Czech Republic this year and likely the largest in a decade or so.”