Conseq Group’s Conseq Realitní investment fund has bought the A7 Office Center in Prague from Revetas. The purchase price has not been disclosed. The 16,000 sqm building is located in the Czech capital’s Holešovice district. The list of tenants includes Czech News Center, Ahold Czech Republic, DM Drugerie and Megapixel.
A brewery operated on the site from 1896 until 1998. By 2008 it was converted into a modern office building with additional retail space.
Revetas Fund II initially acquired the asset with a co-investor in 2015. “During the three years of our ownership, we have exceeded our financial target and fully achieved our objective by transforming the A7 Office Center into a fully leased, stable and cash generating asset," said Eric Assimakopoulos, Managing Partner of Revetas Capital.
Conseq Realitní manages €2.3 billion (CZK 60 billion) worth of real estate assets.
