CA Immo has completed the sale of five office buildings at the Riverside Karlín campus in Prague, exiting the Czech market entirely. The portfolio comprises approximately 85,000 sqm of gross leasable area, and the transaction was concluded at a profit to book value. The entire local Czech CA Immo team has also transferred to the new owner.
The sale follows earlier disposals of the Visionary and Kavci Hory office buildings in Prague, and comes as the company nears completion of a refurbishment of Danube House. "As we near completion of the Danube House refurbishment, is the right time to conclude our market exit with the sale of the Riverside campus in Karlín," said Keegan Viscius, CEO of CA Immo. "I am pleased that the campus will remain intact, and also that our local Czech team will continue to look after the portfolio under the stewardship of the new owner."
Viscius added that the transaction supports the company's broader repositioning: "As a result of this sale, we continue to refine our strategic profile and underlying portfolio of modern A class quality office assets, while increasing economies of scale and critical mass in Germany."
