Generali Real Estate has acquired the Apollo Business Center IV office complex in Bratislava from developer HB Reavis.
Generali Real Estate has acquired the Apollo Business Center IV office complex in Bratislava from developer HB Reavis.
Financial details were kept confidential. However, well-informed market sources told PropertyEU that the gross transaction price came to around €80 mln, reflecting a net yield slightly above 7%.
Built in 2008, Apollo Business Center IV provides a total of 32,400 m2 of leasable space, leased on long-term contracts to tenants including Enel Slovenské Elektrárne, IBM, and Henkel.
The scheme, which is part of the larger Apollo Business Center complex, consists of one 16-storey and two 6-storey blocks. The property boasts a Very Good BREEAM environmental rating.
The purchase comes hard on the heels of Generali Real Estate's acquisition this week of the Lindencorso office building in Berlin, in a deal brokered by CBRE.
The mixed-use office and retail asset provides 28,700 m2 of space leased to automotive group Volkswagen.
