Glatzová & Co. provided advisory services to Bohemia Properties

Our law firm provided legal advisory to Bohemia Properties, a.s. in the sale of their land in Střížkov to the development group Daramis for the purpose of constructing a residential project. The transaction involved a non-standard settlement of the purchase price, where the client is entitled to a purchase price of CZK 390 million determined by a share of the purchase prices from the sold residential units. This allows the client to achieve a higher purchase price than in a standard land sale, but the payment of the main part of the purchase price is deferred in time, and its final amount will depend on the selling prices of the residential units. In addition to the standard documentation, a comprehensive cooperation agreement was also concluded between the seller and the buyer for the duration of the construction of the residential project. "We thank the client, the buyer, and their legal representation for excellent and efficient cooperation in negotiating and completing this complex transaction," said Erik Kolan, partner at Glatzová & Co., who led the legal team in this transaction.

• PR_Daramis (PDF, 73.66 kB)