Blackstone and Round Hill Sell Largest Privately Held Residential Property Portfolio in the Czech Republic
01.16.20
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Simpson Thacher represented funds advised by Blackstone Tactical Opportunities and Round Hill Capital in connection with the sale of a portfolio of residential and commercial assets located in the Czech Republic to Heimstaden Bostad AB, for a purchase price of approximately €1.3 billion. The portfolio consists of approximately 42,580 residential units and 1,670 commercial units operated by RESIDOMO. Through multiple capital investments, including major refurbishment and maintenance expenditure and corporate and social responsibility (CSR) programmes, the quality of the assets have been significantly and responsibly improved for the long term.
The Simpson Thacher team included Samuel Charlton, Wheatly MacNamara, Ryan Ng and Max Spindler (Real Estate); Preston Miller (Antitrust and Competition); William Smolinski (Tax); Gil J Strauss and Srishti Gupta (Capital Markets); and Jonathan Lindabury and Caitlin L. Wood (Derivatives).