Skanska has agreed to sell the Port7 office complex in Prague's Holešovice district to AFI Group, in a deal worth CZK 3.16 billion (approximately €130 million).
The complex comprises three office buildings totalling approximately 36,000 sqm of leasable space and a land plot for future development. The fully leased office and retail premises host tenants from a broad range of sectors, including IT, media and publishing, flexible workspace, insurance, advisory services and engineering.
"The acquisition of Port7 represents another important milestone for AFI, reaffirming our focus on quality, well-located mixed-use projects. Port7 will be a valuable addition to our portfolio upon closing," comments Doron Klein, Deputy CEO of AFI Group.
"We remain confident in the office sector. The Czech office market is strong, robust and stable. Occupancy levels are high across the market and within our own portfolio. Our buildings are busy throughout the week, and we are seeing almost full occupancy overall, which is a positive signal," comments Karin Shalev Shogol, CEO of AFI Czech Republic.
“The divestment of Port7 is an important milestone also for us and reflects the strong investment appeal of the Czech market,” adds Katarzyna Zawodna-Bijoch, President and CEO at Skanska Commercial Development Europe.
Port7 was built on the site of a former abandoned factory and has become a new destination on Prague's map that offers a place for work, relaxation, and leisure. The tallest tower has eleven above-ground floors, and the buildings are connected by shared underground parking with a capacity of 262 spaces. The project also includes a retail promenade and a publicly accessible park. The complex applies circular solutions, including the reuse of elements from a demolished Skanska building, and delivers over 40 percent water savings compared to the LEED baseline.
