by Ákos Budai | Investment

HB Reavis has sold Twin City A, a modern office building located in close proximity to Bratislava city centre in Slovakia, to Prvý realitný fund (PRF), managed by IAD Investments with a transaction yield of 6.5%. The building, located in the Mlynske Nivy business district of Bratislava, was completed in 2015 and offers approximately 16,500 sqm of leasable space, which is fully let to a number of tenants, including PWC, Merck Sharp & Dohme, Bayer, BNP Paribas Slovensko and Sfera.


“This is the second deal we have made with IAD Investment and we are very pleased that they are buying another project from our portfolio,” said Marian Herman, Chief Financial Officer of HB Reavis. “Over the last twelve months, HB Reavis has successfully sold 14 completed commercial properties – a total value of over €1 billion– including Konstruktorska Business Center and two buildings within Gdanski Business Centre in Warsaw, 33 Central in London, and our logistic portfolio in the Czech Republic and Slovakia.”
 
“We are pleased to add Twin City A to our portfolio. This acquisition is in line with our strategy and focus on core projects of the highest quality, with an excellent tenant roster,” says Vladimir Bencz, Chairman of the Board at IAD Investments.

Twin City in Bratislava is currently one of the biggest regeneration projects in Central Europe. HB Reavis started construction on site in 2011 and will progressively develop the twelve phases of this development, creating a new modern business environment, easily accessible by all means of transport, bringing back to life a previously neglected part of the Bratislava capital.