Fio Investment Company has announced the purchase of another property to its Fio real estate fund portfolio. The fund has acquired the Stará Celnice office and retail building in the centre of Prague from German pension fund BVK Europa-Immobilien-Spezialfonds, represented in the transaction by Invesco Real Estate.
Stará Celnice is in a central location in Prague, right next to Republic Square, making it accessible to all of its current long-term tenants, ensuring its actual full occupancy. It offers over 11,500 sqm of office and retail space
"For the continued expansion of our real estate fund, we could not have asked for a better investment opportunity than to acquire the Stará Celnice building. By securing this building, we are one step closer to our goal of building a sector-appropriately mixed portfolio of prime commercial properties,“ said Václav Kubáček, Investment Director at Fio real estate fund.
Fio real estate fund was launched in December 2021 as the third fund of Fio Investment Company, alongside Fio global equity fund and Fio domestic market fund. In May 2023, it announced its first acquisition of the Rohan Business Centre office building in Prague's Karlín district, and in August 2024 it acquired the GARBE Park Chomutov manufacturing and warehouse complex.
Fio real estate fund cooperated with these transaction advisors in the acquisition of Stará Celnice: Dentons, Knight Frank, ASB Group and Gleeds. Wilsons, CBRE and TPA represented the seller in the transaction.
