Amundi Czech Republic has completed the acquisition of the company holding the property Polygon office building at Pankrác in Prague for its KB realitní fond 2. The property was sold by Mint Investments. Cushman & Wakefield facilitated the transaction.
“KB realitní fond 2 buys stabilised mid-size buildings in prime locations. The Polygon meets our criteria and is an excellent addition to our existing portfolio,” says Hubert Joachim, Deputy Director for investing in Real Estate at Amundi CR, investiční společnost a.s. The fund is managed by Amundi Czech Republic and is distributed via Komerční banka.
Polygon is a modern Class A office scheme with the shape of a ship situated in the attractive office area of Prague 4 – Pankrác, close to the Pankrác transport node, the Prague arterial road and the Arkády shopping centre. It offers more than 10,000 sqm of office space across eight levels. Occupiers include ATOS, Siemens, Arca Capital, Y-Soft, Hyper Media and Barclays.
"We bought Polygon in 2014 because it is situated in an attractive office location with direct visibility from the Prague arterial road. Having acquired the building, we refurbished it and leased it to prime tenants. This is where our job ends, and we decided to sell the project to a long-term owner,” says Sebastien Dejanovski, Partner at Mint Investments.
Amundi bought the Keystone building in Karlín for the same fund last year. Among others, Amundi acquired buildings such as Square, City Point and a building in Pařížská for the fund KB realitní fond 1, as well as the Prague City Centre for its pan-European fund.
Mint Investments manages an extensive real estate portfolio that includes the International Business Center and Breda & Weinstein shopping centre in Opava. Over the course of recent years, Mint has also bought, stabilised and sold the Palác Euro Astra and Panorama Office Building projects.
Amundi Czech Republic was advised by White & Case on legal issues, Sentient for the technical aspects as well as KPMG for corporate and tax considerations. The seller was legally advised by Wilsons.