Redside fund acquires trio of retail assets in major Czech deal

Czech-registered investment company Redside has acquired a portfolio of three retail assets spanning more than 62,000 m2 for newly established fund Nova Real Estate.

The three properties comprise the 27,990 m2 Rynokva retail centre in Jablonec nad Nisou, the Orlice Park retail centre in Hradec Kralove, with a gross area of 26,283 m2, and the Albert Hypermarket in Znojmo, with 7,964 m2 of space. The vendor was Bluehouse Capital, a CEE-focused private equity investment management firm.

The purchase price of the portfolio was not disclosed, but Colliers, who provided consultancy and advisory services to Redside, said it was one of the largest real estate transactions in the Czech Republic in 2015.

Redside was founded in 2012 as a joint venture of ASB Group and Arca Capital. Its portfolio includes qualified investor funds focused on private equity and renewable energy sources, as well as its real estate fund.

Colliers International, law firm Kinstellar and tax and accounting specialists ASB Accounting advised Redside, while Bluehouse Capital was represented by JLL and the law firm CMS Cameron McKenna.