News Article Czech Republic HB Reavis investment JLL office Prague REICO
by Property Forum | Investment

In mid-June, international property developer HB Reavis announced the completion of a major real estate deal. The developer sold its office property Metronom Business Center located in Prague-Butovice to ČS nemovitostní fond, managed by Česká spořitelna’s REICO investiční společnost, for a sum of €89.2 million (CZK 2.3 billon). JLL advised HB Reavis on the sale.

HB Reavis completed Metronom Business Center in 2015. It is a modern, 10-storey office building offering nearly 34,000 sqm of floor space. Metronom is located near the Nové Butovice metro station and comprises three interconnected buildings topped with open-air terraces. The BREEAM Excellent certified property offers three underground levels with parking spaces for vehicles and bicycles as well as a charging station for electromobiles. The construction of the property ushered in a fundamental transformation of the previously unkempt surroundings of the metro station, which now finds itself in the midst of a public park and relaxation areas with maintained greenery.
A majority of the property’s office space is leased by German software giant SAP for whom it serves as company headquarters in the Czech Republic.