Hines has sold the Proximo I office building from the portfolio of the Hines Russia & Poland Fund to the CSNF fund, which is managed by Czech investor REICO IS ČS, for €116.6 million.
“The CSNF portfolio is currently undergoing a substantial programme to rebalance the risk. The acquisition of Proximo I from a renowned developer like Hines represents an important step towards diversifying our regional risk exposure. With the purchase of Proximo 1, we’ve gained access to the kind of prime product that is ever harder to come by in our home markets of the Czech Republic and Slovakia," said Tomáš Jandík, Chief Investment Officer at REICO IS ČS.
Sign up today for the latest news