Chinese investment group CEFC has purchased the Florentium mixed-use asset in Prague from Penta Investments.
The transaction volume was not disclosed.
'We see Florentinum as an exceptional business opportunity and as an integral part of our strategy to establish our European headquarters in the Czech Republic. We aim to further develop the concept of Florentinum and create outstanding working conditions for CEFC as well as for all our tenants,' commented Chan Chauto, president of CEFC China.
The LEED platinum certified property, which was delivered in 2014, is occupied by 70 long-term tenants, including EY, HSBC Bank, Bank of China, Havel Holásek & Partners Law Firm and RSJ Investment Group. As well as its 50,000 m2 of office space, it includes a 8,000 m2 retail passage, courtyard and central park representing 63,000 m2 in total.
'We were very pleased by investor interest streaming from various global geographies. The selection and the negotiation process was extremely demanding and in only a few weeks, the Chinese offer outbid a well-known German investor in the final stages,' said Marek Dospiva, partner of Penta Investments.
The tender process was organised and coordinated by JLL on behalf of Penta.
