News Article ALTO investment joint venture office Slovakia Tatra Asset Management
by Property Forum | Investment

Tatra Asset Management, the largest mutual fund manager in Slovakia, and real estate company Alto Real Estate are joining together in their ventures focused on leasing office space, reports

Tatra Asset Management, a mutual fund manager in Slovakia, and Alto Real Estate, a real estate investor and developer, have announced their partnership and the creation of a joint venture to manage the office projects Digital Park 1 and 2 , SKY PARK Offices and CBC 345. Alto Group will retain a majority stake in the joint assets and will be responsible for the management of the joint portfolio, reports

"We announce our cooperation with Alto Real Estate in the best segment of the office projects market in Slovakia. By strengthening our presence within the Bratislava Central Business District (CBD), we are fulfilling our long-term real estate strategy with a focus on premium assets and locations that offer a diversified source of returns and the most stable growth potential for our real estate funds," said Martin Ďuriančik, Vice-Chairman of the Board of Tatra Asset Management.

"Cooperation with Tatra Asset Management is a key step in our efforts to provide our tenants with quality services. We believe that the joint venture will allow us to gain synergies and ensure that these office projects will continue their success," informed Ján Bryndza, Business Director for Alto Real Estate.

The companies, which are part of the joint venture, specialize in leasing high-standard office and commercial space in the immediate vicinity of the centre of Bratislava. A transaction of this magnitude was subject to review and approval by the regulatory authority, the Slovak Antimonopoly Office. After assessing the notified concentration, the Authority issued a decision approving the concentration consisting of the creation of a joint venture between Tatra Asset Management and Alto Property, stating that it is in compliance with the Competition Act.