Prague—Global law firm Dentons has advised Unibail-Rodamco-Westfield (“URW”) on the sale of a 25 percent stake in Centrum Černý Most in Prague, Czech Republic, to Upvest and RSJ Investments. Dentons also advised URW on forming a long-term joint venture to further invest in the shopping center, with Upvest and RSJ Investments having an option to take an additional 24% stake within two years.

Centrum Černý Most is one of the best performing shopping destinations in Prague. The 85,000 sqm shopping center is currently undergoing an expansion of 9,000 sqm, with the new retail, dining and leisure facilities to be delivered in 2026.

The transaction was achieved at an implied offer price of €553 million (at 100%).

As part of the transaction, the asset has been financed with a green mortgage loan of up to €268 million that will be partly used to finance the ongoing shopping mall extension. The financing marks the largest syndicated commercial real estate loan in the Czech market since 2023.

Partner and Co-Head of the Real Estate Practice Markéta Tvrdá led the real estate transactional team supported primarily by associates Samuel Bodík and Jan Sedlák. Partner Ondřej Bartoň led on the financing workstream, supported mainly by associate Martin Šupák and junior associate Ján Mozoľ. Other members of Dentons real estate and banking & finance team have worked on this very complex transaction as well.

Jiří Stržínek, Czech Republic Co-Managing Partner and Co-Head of the Real Estate Practice Group in Dentons’ Prague office, oversaw the entire transaction.

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