With the purchase of the Visionary office building in Prague, CA Immo and Skanska have successfully signed and closed the second transaction between the two companies in the CEE region in 2018. The gross transaction volume is approx. €68 million.
Visionary is an A-class office building, completed in April 2018, which has 23,000 sqm of gross leasable area. Located in Prague 7, the building is currently around 91% occupied with tenants such as Accenture, Business Link and WMC/ACTUM Digital on an average lease term of more than seven years. During the sales process, CA Immo was advised by Clifford Chance (legal), E&Y (tax, financial) and Obermeyer Helika (technical). The legal adviser for Skanska was Dentons. The transaction was closed when the contract was signed.
According to Andreas Quint, CEO of CA Immo: “After the purchase of Campus 6.1 in Bucharest in April, the Visionary office building is our next step in the expansion of our CEE core portfolio. These two acquisitions jointly lead to a yearly rental increase of up to € 7.9 million. With our strong German development pipeline, which is progressing according to plan, we are well on track to meet our financial goals for this year.”
Katarzyna Zawodna-Bijoch, President and CEO of Skanska’s commercial development business in CEE says: "Prague is one of the hottest, most mature and respected investment destinations in the buoyant CEE region. Holešovice district, where we built Visionary, has become a real rising star among office locations in the Czech Republic's capital city. We are planning more developments in this area. This transaction is our second with CA Immo within two months. We are very happy that our business partners have decided to expand their CEE portfolios with Skanska developments."
The building is expected to receive LEED Platinum and WELL Core & Shell certifications (first in the Czech Republic), which monitors factors that affect people's health and wellbeing (e.g. quality of air, water and access to a source of light) and focuses on personal comfort, access to healthy food and the effect of buildings on physical and mental health.
The common areas and retail spaces of the building offer a range of services not only to its tenants but also to the local community. The building comes with a garden, and people will have access to amenities such as a multifunctional sports area. In addition, many other services are directly located in the building, such as a doctor‘s clinic, pharmacy, kindergarten, a restaurant and a self-service laundry; a running track is also provided on the rooftop. Moreover, shared e-car and bike facilities are available for tenants. A mobile app connects all the services in the building and its surrounding area.
