by Ákos Budai | Investment

Penta Investments has sold its Florentinum office building, the company’s first development completed in the Czech Republic, to Chinese investment group CEFC. Florentinum, a LEED Platinum certified property opened in 2014 and is home to 70 long-term tenants, many of them blue chip companies such as EY, HSBC Bank, Bank of China, Havel Holásek & Partners Law Firm and RSJ Investment Group. The value of the transaction has not been disclosed. 


Florentinum, located in the heart of Prague, combines premium quality office space with a busy retail passage, courtyard and central park. The property totals 63 000 sqm of leasable area (including 50 000 sqm of offices and 8 000 sqm of retail). Florentinum attracted long-term tenants such as consultants EY, Havel Holásek & Partners and financial firms HSBC Bank, Bank of China and RSJ Investment Group. 
 
“We were very pleased by investor interest streaming from various global geographies. The selection and the negotiation process was extremely demanding and, in only a few weeks, the Chinese offer outbid a well-known German investor in the final stages”, commented Marek Dospiva, Partner of Penta Investments
 
“We see Florentinum as an exceptional business opportunity and as an integral part of our strategy to establish our European headquarters in the Czech Republic. We aim to further develop the concept of Florentinum and create outstanding working conditions for CEFC as well as for all our tenants”, said Chan Chauto, President of CEFC China