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Kinstellar advises P3 on acquisition of logistics parks in Slovakia
Kinstellar has successfully advised P3, a prominent pan-European logistics property investor and developer, on the acquisition of a portfolio of logistics parks located across multiple locations in Slovakia. The transaction marks a significant expansion of P3’s footprint in the Slovak logistics market. The seller was Stoneweg Europe Stapled Trust, a Singapore-listed real estate investment trust (REIT), which recently announced its strategic exit from Slovakia through a divestment as part of its broader portfolio rebalancing strategy in Europe. The deal was structured as a share deal, ensuring an efficient transfer of ownership. Kinstellar provided comprehensive legal advisory services, including full-scope due
Kinstellar advises Mitiska REIM on the strategic acquisition of OC Cassovia in Eastern Slovakia
We are proud to announce that Kinstellar’s team in Slovakia acted as lead legal counsel to Mitiska REIM on the acquisition of OC Cassovia, one of the largest retail centres in Eastern Slovakia, located in the city of Košice. The transaction was completed on behalf of the MEREP 3 fund, in partnership with local asset manager Asset Services, and with the European Bank for Reconstruction and Development (EBRD) as co-investor. This marks another strategic milestone in Mitiska REIM’s expansion on the Slovak market. OC Cassovia is a well-established regional shopping centre offering nearly 23,000 sqm of gross leasable area, 1,200 parking spaces, and an excellent location within a growing retail zone in the southern
Kinstellar advises Accolade Holding on the acquisition of GLP Košice logistics park in eastern Slovakia
Kinstellar has successfully advised Accolade Holding, a Czech investment group specialising in sustainable industrial infrastructure, on the acquisition of a 21,600 sqm facility in Košice, Slovakia, which is currently fully leased by a leading automotive supplier. The transaction further expands Accolade’s footprint in the Slovak market and supports its long-term strategy of developing high-quality infrastructure for businesses across the logistics and manufacturing sectors. Kinstellar’s Bratislava office provided full legal support throughout the entire transaction process—from acquisition structuring and negotiation to legal support on the financing side. The acquisition was financed by Tatra banka. The
Kinstellar advises Mitiska REIM on EBRD’s entry into joint venture developing five retail parks in Slovakia
Kinstellar has advised Mitiska European Real Estate Partners 3 (“MEREP 3”) —an investment fund of Mitiska REIM—in connection with the entry of the European Bank for Reconstruction and Development (“EBRD”) into a joint venture with property developer OPC Group for the development and operation of five retail parks in Slovakia. The joint venture involves retail parks located in Liptovský Mikuláš, Skalica, Sládkovičovo, Žiar nad Hronom, and Veľké Kapušany. The EBRD entered the partnership through its investment vehicle MEREP 3 CEE CIV CommV to support the development of sustainable commercial real estate in the region. All projects are expected to target BREEAM “Very Good” or higher certification.
Kinstellar advises Mitiska REIM on the acquisition of land in Bratislava for the construction of a retail park
Kinstellar has successfully advised First Retail International 2 (“FRI 2”), a closed-end real estate value-added fund managed by Mitiska REIM, on the acquisition of land in the Slovak capital, Bratislava, for the construction of the “Podunajská brána” retail park, through a joint venture between Mitiska Group and Asset Services, a Czech provider of development, property and facility management services. Work at the site has already begun. Managed by Mitiska REIM, a leading specialist investment management company in European convenience real estate, FRI 2 invests exclusively in retail parks, both clustered standalone units and integrated retail properties. The fund has already deployed more than EUR 200 million
Ransomware attack on Slovakia’s Real Estate Register causes nationwide outage of all services and databases containing information on immovable property rights
On 5 January 2025, the Real Estate Register in the Slovak Republic (the “Register”) was subject to a ransomware cyberattack. The Register is the sole register containing information on ownership, third-party rights (easements, pledges, etc.) and other material information on immovable properties in Slovakia. As a result of the cyberattack, all the Register’s services are unavailable, and all Real Estate Register Offices are closed until further notice. In practice, the following services, among others, are unavailable: it is not possible to obtain title deeds, either in electronic or in hard-copy form; and all ongoing proceedings concerning immovable properties (sale, pledge, etc.)
End of UBO publicity?
As of 2020, European Union (“EU”) Member States are obliged to make details of ultimate beneficial owners (“UBOs”) of corporate and other legal entities available to the general public. However, in light of the recent decision of the Court of Justice of European Union (“the ECJ”), it is now questionable whether this obligation will remain. The requirement to make details of UBOs publicly available was introduced by Article 30 (5) of Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (“the AML Directive”). The Member States are entitled to restrict public availability of details on UBOs under the AML Directive in the