River Garden Office I sold

River Garden Office I
River Garden Office I
HB Reavis Group completed a sales transaction of the River Garden Office I located in Prague. For 50 million euro, at capitalization rate scarcely exceeding 6,5 per cent, it was bought by Prvý realitný fond (PRF), managed by the IAD Investments company.

Completed in 2012 the River Garden Office I is located in a dynamically developing Karlin district and offers ca. 19 000 sq. m of floor area, which is entirely occupied by such companies as: Unilever, ADP, Monster Worldwide, Alpiq and Tengelmann. In the building, there is also a headquarters of HB Reavis. The sale of the River Garden Office I constitutes evidence of an unwavering trust, which our projects enjoy on the Central European market. It is a crucial moment in the history of our company both in Czech Republic and on fuller-scale – commented Jiří Hrbáček, Chief Financial Officer of HB Reavis Group.

 

Within last three years, HB Reavis Group sold properties of a combined value exceeding half a billion euro. Among them, there were also such commercial investments as: Apollo Business Center IV and City Business Center III-V in Bratislava and Aupark Shopping Centre in Žilin.

 

We are pleased that we may add the River Garden Office I to our portfolio. This transaction fits in our present strategy, within which we are focusing our attention on the best quality projects, attracting prestigious tenants, as well as on a geographical diversification of investments in the PRF portfolio – said Vladimir Bencz, chairman of the board of IAD Investments.

 

IAD Investments was founded in 1991 and it is the oldest Slovakian director of trust funds. The partnership functions in East-Central Europe countries. At the moment, it manages nearly 200 million euro. Prvý realitný fond belongs to the category of special trust funds, which are specialized in investments in capital assets (logistic centres, shopping malls and offices).


0.0
Tags:
Be the first to comment
mantra