Upvest and RSJ have entered a joint venture to acquire a 25% stake in the Černý Most shopping center, with plans to increase their stake to 49% over the next two years.

Information on the Target

Upvest, in collaboration with the investment company RSJ, has acquired a 25% stake in the Černý Most shopping center from Unibail-Rodamco-Westfield (URW). This transaction marks the beginning of a strategic partnership, with an aim for Upvest and RSJ to increase their collective stake in the joint venture to up to 49% within two years. The deal is outlined under a framework where URW will continue to maintain a majority stake and oversee the comprehensive management, operation, and development of the shopping center.

The investment was facilitated through a qualified investor fund, CCM SICAV a.s., which is solely focused on acquiring and holding a stake in the Černý Most shopping center. The acquisition cost is based on an agreed property valuation of €553 million, supported by a bank financing consortium amounting to €268 million, part of which will cover expansion costs.

Industry Overview in the Czech Republic

The real estate sector in the Czech Republic continues to show resilience and growth in early 2025, driven by strong demand for both commercial and residential properties. Throughout the past year