HAVEL & PARTNERS advised Antracit, a Czech-Slovak developer from the North Moravian Purposia Group on the acquisition of the former Palace Hotel complex in Ostrava.

Partner Lukáš Syrový and managing associate Albert Tatra led the transaction. Their legal team not only conducted due diligence, but also negotiated the comprehensive documentation for the acquisition.

The transaction was completed by the buyout of 100% of the ownership interests from the existing owners at the end of last year.

The former Ostrava Palace Hotel, constructed in 1913 during the Austro-Hungarian era, was considered one of that time’s most modern buildings. Today, the facility houses the Kampus Palace student housing project, which remains in operation. Additionally, the new owner plans a comprehensive renovation of the remaining portion, transforming it into small apartments and commercial spaces for civic-amenity services. The renovation is scheduled for completion in 2030.

Photo: Jiří Zerzoň