Penta Real Estate has attracted Alto Real Estate as a minority partner in its Chalupkova project in Bratislava through a joint venture arrangement. Alto will hold a 49% stake while Penta retains management control over the development and construction.
Alto will also become the first tenant in the Chalupkova Offices building, which represents the initial phase of the planned development area in Bratislava's downtown. The partnership combines Penta's experience in large-scale urban projects with Alto's investment capacity, as Alto views Chalupkova as a natural extension of its presence in Bratislava's downtown area.
"The partnership with Alto Real Estate represents an important strategic moment," said Michal Rehák, CEO of Penta Real Estate Slovakia. "The entry of a financial partner who has long operated in the same location and understands its potential brings another dimension to the project."
Ján Bryndza, Business Director at Alto Real Estate, added: "From our perspective, Chalupkova has potential. It is located directly next to Sky Park, which we are developing as a new residential project called Sky Park Square. Our entry into the Chalupkova project is therefore a logical step for us."
The Chalupkova Offices project, designed by renowned Jakub Cigler Architekti, will offer over 33,000 sqm of office space and 1,500 sqm of retail areas. The building aims to achieve LEED Platinum certification and carbon neutrality in operations according to LEED Zero Carbon standards, with renewable energy sources, heat pumps and photovoltaic panels reducing electricity consumption by more than 40% compared to LEED Gold certified office buildings.
