Cresco moves ahead with resi project in Prague

30
Jan
2025
News - Cresco moves ahead with resi project in Prague #Cresco #Czech Republic #Hochtief #Prague #residential

by Property Forum | Residential

The foundation stone of the second stage of the SO-HO Rezidence by Cresco has been laid in Prague's Holešovice.


The SO-HO Residence is being built on the brownfield of the former Tesla factory. The construction includes 194 modern apartments and 8 commercial units on the ground floor. The general construction contractor Hochtief anticipates the completion of the 2nd stage in the 4th quarter of 2026. 

Cresco Real Estate has sold or reserved more than 35% of the apartments from this second stage. The buildings are designed in a low-energy standard, rainwater from the roofs and paved areas is used to maintain the greenery in the project. Extensive greenery on the roofs helps to save the energy needed for heating or cooling, and at the same time gives a green feeling to the residents in the surrounding apartments.

"As part of the second stage, we will also build a kindergarten with two classrooms and a garden, which, after the completion of the new building, we will hand over to the Prague 7 district and they will operate it," said Aleš Svatoň, Director at Cresco Real Estate for the Czech Republic.




New leases

  • UDH, one of Poland’s largest distributors of premium imported beers, has leased approximately 1,400 sq m of modern warehouse and office space at the Park Rysy Kraków distribution centre. The tenant, which has chosen to expand its operations in southern Poland, was once again represented by AXI IMMO.
  • Golden Star Estate has secured a long-term lease agreement with global technology solutions and consulting provider C&F for nearly 1,900 sqm of office space at the Konstruktorska Business Center. Following the transaction, the property, located in Warsaw’s Mokotów business district, is now almost fully leased. The Polish branch of C&F will officially relocate to the facility at the beginning of 2027.
  • Natland Group has committed to its long-term presence at Prague-based Rohan Business Center through a lease extension covering 2,004 sqm of office space, together with storage facilities and dedicated parking spaces, in a deal brokered by iO Partners.

New appointments

  • Indotek Group has announced the appointment of Diederik Bakker as Group Chief Investment Officer and Group Head of Asset Management. In his new role, the Dutch real estate investment professional will gradually assume responsibility for the company's ITAM (investment, transaction, and asset management) activities across 12 European countries, supporting the next phase of Indotek Group’s growth. His focus includes facilitating sound investment decisions across Europe and developing a group-level portfolio management strategy that combines local market knowledge with international asset management know-how.
  • Peakside Capital Advisors has appointed Bogi Gabrovic to advise the board and support its investment and acquisition activities in Poland. Gabrovic brings more than 25 years of CEE real estate experience to the role, having previously held senior executive positions at CTP, Golub & Company, and White Star Real Estate, where she managed transactions exceeding €2 billion.
  • Katarína Brydone, Jana Vlková and Vendula Maršová have been appointed as the first Equity Partners of Colliers’ Czech business. Brydone brings more than 20 years of experience in international real estate. Vlková has more than 25 years of experience in commercial real estate. Maršová, Partner and Head of Valuation and Advisory Services, brings more than 16 years of experience in real estate valuation and advisory.

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