We are delighted that DELTA legal has participated in another important project by the Archbishopric of Prague and its platform for rental housing XPlace. The Arietinum Foundation, controlled by the Archbishopric of Prague, has made a deal with Penta Real Estate to purchase two modern apartment buildings in the Nová Waltrovka project in Prague 5, featuring more than 60 premium quality residential units, which will again expand the Archbishopric of Prague’s growing portfolio of rental housing. Rental housing will be one of the church’s key revenue activities after 2030, when the state contribution to the operation of the church will end. The Archbishopric of Prague aims to rent up to 1,000 apartments by 2030, which should help raise part of the funds needed to provide spiritual services, pastoral care and educational and charitable activities. XPlace has implemented similar projects in recent years, including in Smíchov, Zličín and U Šárky, as well as in locations outside Prague such as Kolín and Milovice.
The Nová Waltrovka project builds on the already completed Waltrovka development located nearby. A year ago, the Archbishopric of Prague negotiated the purchase of the first two apartment buildings, comprising 54 residential units, with Penta Real Estate. Our attorney, Henrieta Hovanová, played a key role in negotiating both these transactions and ensured that the entire process was seamless.
Consulting on the apartment complex in Nová Waltrovka is yet another real estate project in which we have participated for the Archbishopric of Prague and the XPlace platform. Thanks to mutual trust and excellent cooperation, we can effectively navigate the legal aspects of complex transactions and deliver solutions that align with today’s market needs.
