British private equity investor Caerus Investment Management has acquired Phase 1 of Futurama Business Park in Prague from Invesco Real Estate (IRE) for an undisclosed sum.
The property, purchased on behalf of a separate account client by Caerus IM, was divested on behalf of one of IRE's closed-end real estate funds.
'We are very pleased that we have been able to secure Phase 1 of Futurama BP,' commented Christopher Millen, managing director of Caerus IM, which also has an asset management base in Prague. 'This was a strategic acquisition on behalf of one of our separate account clients having already acquired Phase 2 of the same property with the same client in late 2015.'
He added: 'With these additional buildings, we are creating a critical mass in what is one of Prague’s most prominent business park configurations which will enable us to build upon our existing tenant relationships and manage the properties more effectively. We believe such consolidation strategy will greatly benefit both our investor and also the quality of the services we can offer to our now combined set of tenants.'
Known as 'Futurama ABC', the property consists of three class A buildings completed in 2009, all multi-tenanted. Combined, they represent 19,300 m2 of office and retail premises currenty leased to a mix of international and domestics occupiers.
Wilsons and PwC acted as legal and tax advisors to Caerus, while Havel & Holasek and TPA Horwath acted in the same capacities for the seller. Knight Frank were exclusive sales agents acting on behalf of IRE
