Real Estate

We provide our clients with a wide range of real estate services. We advise funds, companies and individuals active in real estate investment, development, financing, operating and construction on a wide range of issues across the CEE region. Key services we offer include financial, tax and commercial due diligence and transaction support.

How PwC can help

Project funding

We assist our clients with the entire process of project funding. Whether this involves banking or non-banking funding or subsidies, our real estate team is ready to help you to select and subsequently acquire the ideal combination of financing for your project.

Seeking investment opportunities

Being a part of the global network, PwC real estate team is ready to assist you with seeking investment opportunities on the local as well as international market across the CEE region.

Full transaction support

Our team of real estate specialists is ready to assist you at any stage of your deal. Our years of experience on the market allow us to support you in the real estate area across various fields and markets.

Performance portfolio review

We carry out reviews of real estate or portfolio performance based on the financial data provided. We will help you to identify and fix any weaknesses of your real estate.

Due to the high values of real estate deals, both the buyer and the seller must be certain to have the entire transaction set up accurately. We help our clients to understand and find their bearings in the complexity and hidden risks of such deals, so that they can be sure to have made the right investment decisions.

Richard Jones

Leader, Real Estate Deals

Our real estate services

Transaction support

We provide full real estate buy-side and sell-side advisory services: 

  • We carry out financial, commercial and tax due diligence services with respect to acquisitions or disposals of individual properties, portfolios and real estate businesses
  • We will help you to identify and fully understand the key risks associated with the real estate or business by assessing and validating assumptions that underlie the deal
  • We will give you a coherent overview of the transaction from a financial and commercial perspective, and provide you with valuable information to support negotiation of the purchase consideration

 

Tax advisory

Pre-investment tax due diligence

  • We will review the historic tax position of the target company, focused on potential risks that could have impact on the purchase price
  • We will evaluate the current processing of tax agenda and management of any tax risks with the aim to identify any deficiencies
  • We will propose the appropriate measures to address the identified risks and deficiencies for the purposes of the purchase contract as well as the subsequent implementation of the relevant measures upon completing the acquisition deal

Tax structuring

  • We will propose the potential acquisition structure and, alternatively, even the post-acquisition reorganisation (including the transfer of the real estate and business activities onto one or more companies) of the target company, taking into consideration the preference of the company members. This aims to minimise the potential impact on the VAT and other taxes during the acquisition, possession or the subsequent sale

Audit

We provide third-party auditing services and due diligence according to international standards as well as standards applicable in the Czech Republic. Our auditing services include:

  • Audit or due diligence of group reporting

  • Due diligence of interim statements

  • Analysis of internal control systems

  • Company administration and management

  • Management accounting

Valuation services

Our valuation services are covered by the Valuation & Strategy Group consisting of specialists in individual industries and the specific purposes for which valuation services are requested. This allows our people to use and combine their experience across various fields – in this particular area, with focus on real estate.

The Czech valuation team is part of the PwC Central European and worldwide network of valuation services, which enables it to regularly share its findings and knowledge. We have extensive experience with real estate valuation for various purposes:

  • Valuation of real estate for the purposes of transactions between third-parties and related parties

  • Valuation of real estate for the purposes of non-monetary contributions

  • Valuation of unfinished projects and development projects

  • Valuation for the purposes of legal disputes and out-of-court settlements

Upon request, we can also provide valuation services pursuant to the RICS standards.

The output valuation documentation will be subjected to the assigned purpose and it will be elaborated in the following forms:

  • valuation report

  • presentation

  • expert opinion

Risk assurance

As investment funds come under increasing scrutiny from regulators, financial institutions and investors alike, the focus on risk management and compliance has intensified. Our risk assurance team has broad experience and is ready to assist you with the following:

  • Consulting and support in the area of internal audit

  • Due diligence of internal control systems

  • Ensuring regulatory compliance

  • Assessment of structural and company risks

  • Compliance

Debt advisory

We provide professional advice to our clients, obtaining the most flexible and cost-effective financing, whether for specific projects or on a corporate basis.  Moreover, as an independent party which does not provide financing, we have no predisposition towards any specific financing instrument.  On the part of financial institutions, the involvement of PwC Real Estate provides comfort that the materials presented conform to the highest industry standards.

Accounting

Our accounting team is ready to provide you with accounting services including:

  • Set-up and administration of daily accounting tasks

  • Purchase or sales ledger administration services

  • Preparation of statutory reporting and year-end closings

  • Migration of corporate general ledger accounting (US, GAAP, IFRS, HB, etc.) to local accounting

  • Technical consulting services, including any adjustments or optimisation of the current booking and accounting system

Treasury

Our treasury team has helped a number of funds to implement risk management strategies such as foreign exchange and interest rate hedging. Our team is ready to assist you with the following:

  • Design and implementation of the right model for the purposes of governance and control of your treasury processes

  • Cash flow and liquidity management to gain an overview of the cash and working capital and to forecast future flows

  • Preparation of integrated cash management system

Legal services

Our lawyers are professionals who combine their knowledge of the law with their experience of its application in real estate business. Our legal department is ready to help you with the following:

  • Mergers & Acquisitions

  • Insolvency and restructuring

  • Real estate due diligence

  • Revision of lease and supplier contracts

  • Restructuring, revision and negotiation of funding contracts

  • Legal disputes, labour law and others

Contacts

Richard Jones

Richard Jones

Advisory - Deals, PwC Czech Republic

Tel: +420 735 729 800