News Article Aviva Czech Republic HB Reavis investment LaSalle office Prague
by Ákos Budai | Investment

Aviva Investors and LaSalle Investment Management have acquired River Garden II & III in Prague, on behalf of the Pan-European Fund Encore+ for €84 million. River Garden II & III, developed by HB Reavis is Class A office building with ground floor retail, located in the Karlin district of Prague. This is the first acquisition that Encore+ has made in the Czech Republic.

Encore+ is a diversified, Continental European real estate fund which aims to deliver stable and growing income alongside long-term capital appreciation, from an actively-managed portfolio, in a monthly-dealt, open-ended fund structure. The fund has been co-managed by Aviva Investors as fund manager and LaSalle Investment Management as asset manager for over 10 years, with LaSalle also being responsible for all deal sourcing for the fund.

The eight-story complex, which has recently been awarded a BREEAM Excellent certificate, offers over 25,000 sqm of rentable space. The River Garden building was completed in 2014.