International Campus Group’s signing a joint venture with Karlín Group in connection with project development “THE FIZZ Prague”

Allen & Overy LLP has advised the Munich-based specialist for micro-living products International Campus Group on its expansion into the Czech Republic.

In a joint venture with the Czech project developer Karlín Group, International Campus purchased a project development opportunity in the Holešovice district of Prague comprising 529 high-class student apartments. The parties agreed not to disclose the purchase price.

The future “THE FIZZ Prague” will boast a gross floor area of 16,529 square metres across eight floors. The opening is planned for the first quarter of 2020.

International Campus and the Karlín Group each hold a 50% stake in the joint venture. Once the building has been completed by the Karlín Group, International Campus will buy out the joint venture partner and place the property in a separate real property fund for institutional investors.

Allen & Overy has advised International Campus Group on the deal with a team led by Frankfurt partner Dr. Markus Käpplinger (picture), and comprised counsel Nikolai Sokolov and senior associate Dr. Roman Kasten (all Corporate/Private Equity, Frankfurt). They were assisted from the Prague office by senior associate Magda Pokorna, associates Jana Svarickova (both Corporate), Michael Havel, Pavel Prihoda and legal assistant Petr Hotovec (all Banking).

Involved fees earner: Markus Käpplinger – Allen & Overy; Nikolai Sokolov – Allen & Overy; Roman Kasten – Allen & Overy; Magda Pokorná – Allen & Overy; Jana Svarickova – Allen & Overy; Michael Havel – Allen & Overy; Pavel Prihoda – Allen & Overy; Petr Hotovec – Allen & Overy;

Law Firms: Allen & Overy;

Clients: International Campus Group;