Prague—Dentons' advised Heimstaden Bostad, the third-largest provider of rental housing in Europe, on its €23 million acquisition of a portfolio of residential apartments in the Unicity complex in Plzeň from the Czech real estate development company Daramis. The portfolio consists of 226 flats and 5 commercial units.

The transaction also includes an agreement that until the end of 2022, the seller will provide property management services. Heimstaden will manage the flats with its concept from January 2023.

With the acquisition, Heimstaden confirms its position as the domestic number one on the rental housing market. In 2020, the company bought a portfolio with 42,500 residential units located mainly in the Moravian-Silesian Region.

The Dentons Prague based team working on the transaction was led by real estate partners Evan Lazar and Markéta Tvrdá, supported primarily by senior associate Jakub Nosek and associate Jan Sedlák.

Evan Lazar, Global Co-head of Real Estate at Dentons, commented, “We are proud that Dentons has helped Heimstaden complete three major transactions in CEE in four months.”

Dentons team has recently advised Heimstaden Bostad on their €65 million acquisition of two build-to-rent projects located in Warsaw’s Praga-Północ and Służewiec districts, as well as on €85 million acquisition of three build-to-rent projects in Warsaw – Unique Tower, Moko Botanika and Studio Okęcie.

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