ARTICLES LABELLED WITH TAG Prague

Mint Investments, a Central European real estate investment & asset manager acquired the International Business Center (IBC) in Prague on behalf of a syndicate of private investors. The buyer was AEW Europe, a multi-national real estate asset manager, with over €60 billion of assets under management. AEW was advised by CBRE, Havel, Holásek & Partners and Mazars. Mint Investments were advised by Mareš Partners and EY.

Colliers International has announced the off-market sale of two industrial properties in the Czech Republic by Red Group for a total consideration of almost  CZK 1 billion, in yet another sign of the growing attractiveness of Czech industrial real estate to investors.

Prologis has completed a state-of-the-art 30,250 square metre build-to-suit facility at Prologis Park Prague-Jirny for HP TRONIC, a retailer of consumer electronics in the Czech Republic and Slovakia. With the delivery of this facility, the park is fully developed.

Portland Trust and its long term joint venture partner Ares Management have purchased Office Park Nové Butovice in Prague 13 for €65 million. The seller was CEE Property Development Portfolio (CPDP 2). Office Park Nové Butovice offers 36,000 sqm of leasable space.

Skanska has sold the office building Five in Prague, to a real estate fund managed by TRIUVA Kapitalverwaltungsgesellschaft for €50 million. The transaction will be recorded by Skanska Commercial Development Europe in Q2 2017, with the transfer of the property scheduled for Q4 2017.

Bank cards play an increasingly bigger role in every aspect of our lives and passengers in CEE countries are becoming increasingly open towards using electronic payment solutions to pay for public transport services. Frantisek Jungr, Senior Business Development Manager for the CEE Region at Visa Europe talks to Property Forum about the experiences he gained during the implementation of electronic ticket systems in the Czech Republic, and while learning about the Czech examples, we also examine the shortcomings of Budapest’s current and future ticket system.

P3 is to start the construction of two new warehouses with a total floor area of 25,500 sqm at the P3 Prague Horní Počernice logistics park to respond to growing demand for space at the park. Once the expansion is completed, the park will have a total lettable area of nearly 380,000 sqm. Scheduled to start in the second half of 2017, construction will be completed at the beginning of 2018.

LaSalle Investment Management has acquired the River Garden I office complex in Prague’s Karlín business district on behalf of its LaVA mandate for approximately €57 million. The seller is Slovak asset management company IAD Investments on behalf of Prvý realitný fond.

Prologis announced that its 33,700 sqm build-to-suit facility for Czech sports retailer Sportisimo at Prologis Park Prague-Rudna is the first logistics facility in the Czech Republic and only the second such building in Central and Eastern Europe to receive BREEAM’s highest accreditation rating.

Some 75% of modern office stock in Prague is located within a 10-minute walk from a metro station, making the underground network a crucial feature of successful office projects in the Czech capital, according to Prague Office Metro Map,  the latest research from Colliers International.