Hypo Real Invest buys Skanska office building in Prague

Skanska Property Czech Republic is divesting its office project, Vysehrad Victoria, in Prague to Vienna-based Hypo Real Invest's Immobilienfonds Nr.1 for EUR 13.5 mln..

This is the first cross-border acquisition in the Czech Republic by Hypo Real Invest.

The building, located in Prague 4, was completed in 2008.Vysehrad Victoria comprises approximately 5,000-m² of office space over eight floors. It is leased to international companies, including OMV, Czech Credit Bureau and W.A.G.

Hypo Real Invest described Prague as one of the most reliable markets in Central Europe and that the company is planning further investments there.

CB Richard Ellis Capital Markets advised Hypo Real Invest on the acquisition. Jones Lang LaSalle Capital Markets acted for Skanska.