CS Real Estate, the largest and oldest Czech open-ended property fund, has acquired a Slovakian office building for almost €36 mln.
Park One in the capital Bratislava is home to the Slovakian headquarters of online retail giant Amazon. Other tenants include Zurich Insurance, L’Oréal and CBRE.
CS Real Estate Fund, which is managed by REICO investicní spolecnost Ceské sporitelny, acquired the property from the fund, Falcon II, advised by CBRE Slovakia. The transaction was carried out via transfer of a 100% stake in the real estate company which owns the Park One building.
'This prime office building offers very favourable risk-adjusted returns for our unit holders. It has a great potential to generate long-term sustainable income and contribute to stable growth of our portfolio,' said Tomáš Jandík, chief investment officer at REICO IS CS.
