South Korean investor Hana Financial Investment has acquired an office property in Prague for over €115 mln.
CEE-focused investment manager Mint Investments Group executed the deal on behalf of the Korean fund, and will take over the asset management of the property.
The energy-efficient Main Point Pankrác building, developed by PSJ Invest, is located in a key Czech office sub-market, Mint said. It comprises 26,500 m2 of office and retail space over 10 storeys and almost 400 parking spaces across three underground levels. The asset is targeting LEED Platinum certification.
Tenants include McKinsey & Company, Unipetrol, Dimension Data and ARVAL CZ.
'South Korean investors have been very active on the Czech market in recent months, as in January, we arranged the acquisition of Florenc Office Center in Prague for another investor from the Republic of Korea,' said Sebastien Dejanovski, a partner at the Mint Investments Group.
'That was the very first time that an investor from South Korea successfully concluded a prime property acquisition in the Czech market,' Dejanovski added.
Hana, an active investor in Europe, established the first investment fund in South Korea and is considered one of the pioneers of the country's investment banking culture.
Legal and commercial due diligence was provided by Dentons and Cushman & Wakefield, respectively. Arcadis (technical due diligence) and TPA (financial and tax due diligence) also participated in the transaction.
