News Article ECE investment JLL Kosice office Penta Investments Slovakia
by Property Forum | Investment

Penta Real Estate has sold the Business Centrum Tesla 2 office building project in Košice to Austrian company European City Estates. BCT 2 provides 14,600 square meters of office space. The largest tenants are T-Systems Slovakia, Deloitte, Diebold-Nixdorf and Colonnade. On the seller side, the transaction was advised by JLL. The purchase price was not disclosed upon agreement between the parties.

After the completion of the upcoming construction of BCT 3, this project will also be sold to ECE. A building permit has already been issued for the BCT 3, and the start of construction is planned for next spring. The total leasable area of BCT 3 will be 15,500 sqm.

“Our decision to invest in Košice was driven by the outstanding quality of BCT 2 as an office building and the very positive sentiment we have about the Košice region in general and especially the office market there,” said Dejan Mansfeld-Rupnik, Member of the Board at ECE European City Estates Group.

„In the capitals of Central Europe, we currently see a strong competition among investors during bidding processes. It forces investors to look for interesting opportunities beyond the usual areas. With the exception of Polish regional cities, where foreign and even institutional capital is present, the decision of investors to direct capital into the office sector in regional cities in Central Europe is relatively rare. Therefore, those who are able to properly assess investment potential and are not burdened with prejudices can benefit from less competition and higher returns on their investment,” added Rudolf Nemec, Capital Markets JLL Slovakia.

Together with the fully leased BCT 1 office building of 17,650 sqm and the planned construction of the third phase, the BCT will form a large office and technology park providing 48,000 sqm of leasable space in the strategic location of Košice.