August 2022 – Kinstellar has successfully advised the German lender Helaba on the provision of a refurbishment and long-term financing to the Czech developer Crestyl for the revitalisation of the historic “NR7” building in Prague’s city centre.
Kinstellar advised Helaba in relation to the renovation and long-term financing of the historic, mixed-use NR7 building, originally constructed in 1905. The landmark property, with a total area of approx. 5,600 sqm, is located at the heart of Prague’s historic city centre on Namesti Republiky (Republic Square) opposite the Palladium shopping centre and offers excellent visibility in an area characterised by good retail, office, hotel and downtown residential locations. NR7 benefits from excellent accessibility by public transport due to its location and infrastructure. Helaba has been active in Central Eastern Europe for more than 16 years, and the Czech Republic is among the bank’s most important target markets abroad.
The Kinstellar team in Prague was led by Klára Štěpánková (Partner) and Leo Javorek (Managing Associate) and also included Václav Kment (Senior Associate) and Igor Šebo (Junior Associate).