Cushman & Wakefield has become the manager of three buildings of TRIUVA, a PATRIZIA company, including the Five office centre in Smíchov, Wenceslas Square 9 and Lindner Hotel Prague, as well as the new acquisitions of funds managed by Amundi Immobilier Paris and Amundi Czech Republic - Praha City Center in Prague 1 and the Polygon House in Pankrác.
Cushman & Wakefield will newly manage the Polygon House in Prague-Pankrác with effect from 1 October. Amundi Czech Republic, investiční společnost a.s., acquired the modern Class A office scheme for its KB realitní fond 2. As of 1 May 2018 the Cushman & Wakefield’s Asset Services team took on the management of Praha City Center, which has also been owned by a French fund managed by Amundi Immobilier since January this year. The scheme has been purchased for its pan-European fund. This Class A office building, which is more than 20 years old, has been considered one of the most modern buildings of its type in Prague ever since opening. The building is currently fully leased. Many of its tenants have been in this 7-floor building since it was opened. In 2013, Praha City Center was the first of its kind in Prague 1 to be awarded the BREEAM In-Use certificate.
“Aside from the technical and administrative management services that we provide for Praha City Center and the Polygon House, we also secure leases and provide valuation services and tactical asset management, or strategic planning to Amundi, seeking to increase net income, secure sustainability and maximize performance in line with the owner’s long-term strategic objectives,” says Lenka Vodrážková, Partner and Head of Office Asset Services in Cushman & Wakefield.
This year, Cushman & Wakefield has also taken over the management of the building portfolio of a German real estate fund managed by TRIUVA, a PATRIZIA company. The portfolio includes the Five office building in Prague 5-Smíchov, which has been already managed by Cushman & Wakefield for previous owner Skanska, the building at Wenceslas Square 9 and the four-star Lindner Hotel Prague Castle in Prague-Strahov. In addition to property management, Cushman & Wakefield provides project management and unit leasing services.
Cushman & Wakefield currently has 80 buildings under management in the Czech Republic and in Slovakia with a total floor area in excess of 1,100,000 sqm, including 28 office schemes and 19 business centres.