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Allen & Overy advises International Campus Group in connection with project development "THE FIZZ Prague"

20 February 2018

Allen & Overy LLP has advised the Munich-based specialist for micro-living products International Campus Group ("International Campus") 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 been regularly advising International Campus for several years, recently in connection with the Munich project development "THE FIZZ Short Stay", the company's first foray into the market for commercial living in Munich in January 2017.

The Allen & Overy team was led by Frankfurt partner Dr. Markus Käpplinger, 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).

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