News Article Arkády Czech Republic investment Prague retail Trigea
by Property Forum | Investment

The Trigea real estate fund has officially completed the purchase of the Arkády Pankrác shopping centre in Prague. The price exceeded CZK 6 billion (€241 million), reports. It is the largest transaction carried out by domestic retail funds in the Czech Republic.

Arkády Pankrác was owned by the Israeli company G City through the company Atrium Pankrác, it bought the company in 2022. The Office for the Protection of Economic Competition (ÚOHS) authorized the Trigea fund from the Partners group to buy the owner of the Arkády Pankrác shopping centre at the beginning of January this year. The entire shopping centre passed under G City last spring, until then a quarter of the shopping centre was owned by its developer, the German company ECE Projektmanagement. The Arkády Pankrác Centre was completed in 2008 and includes roughly 40,000 sqm of rentable space, of which is approximately 96% leased.

"The fund has long sought to strengthen the retail sector, therefore the purchase of this centre is in line with its long-term business strategy. The acquisition of Arkády is proof that domestic capital already plays and will play an increasingly important role in the future," said Tomáš Trčka, General Manager at Trigea.