Immofinanz's subsidiary Immoeast has acquired an office portfolio in Prague for EUR 160 mln. The portfolio includes three properties in the BB Centrum office park providing a total lettable space of 73,700 m[sup]2[/sup]. BB Centrum is considered one of the most important office locations in the capital of the Czech Republic, the company indicated in a press release. All three assets are fully let to renowned tenants including Eurotel, GE Money Bank, 3M and Hewlett Packard.
Immofinanz's subsidiary Immoeast has acquired an office portfolio in Prague for EUR 160 mln. The portfolio includes three properties in the BB Centrum office park providing a total lettable space of 73,700 m2. BB Centrum is considered one of the most important office locations in the capital of the Czech Republic, the company indicated in a press release. All three assets are fully let to renowned tenants including Eurotel, GE Money Bank, 3M and Hewlett Packard.
Immoeast said this is the largest investment by the group on the Czech office market to date. 'We are the leading investor for office and retail', said chairman Karl Petrikovics. A few weeks ago Immoeast also purchased a majority stake in the 27,000 m2 Diamond Point centre, which added to other 69 properties in the country providing a total space of 1.18 million m2. This compares to a 15% of the total EUR 6.7 bn portfolio.
Immoeast was founded in 1999 as a subsidiary of Immofinanz focused on central Europe. The company is listed on the Vienna Stock Exchange since December 2003 and its property portfolio includes 251 assets with 3.8 million m2 of usable space. The portfolio covers all sectors of the property market from offices, commercial space, garages, logistics facilities and apartments to hotels.
