A fund managed by asset manager Mint Investments has closed the largest Czech single office investment transaction of 2015 with the acquisition of the Olbrachtova 9 building in Prague 4 for €50 mln.
A fund managed by asset manager Mint Investments has closed the largest Czech single office investment transaction of 2015 with the acquisition of the Olbrachtova 9 building in Prague 4 for €50 mln.
The property, which was built in 2002, was sold by an unnamed vendor, represented by Colliers International.
The asset offers 19,000 m2 of office and retail space on 12 floors. Major tenants include Opel, Provident Finance and Raiffeisen Bank.
'We are very pleased with this acquisition; Olbrachtova 9 offers a compelling combination of a high quality office building in a strong location, an excellent tenant mix, and a structure that enjoys easy access and visibility,' said Sebastien Dejanovski of Mint Investments.
Chris Sheils, investment services director at Colliers International, commented: 'This is another excellent example of the continuing expansion of the capital base for the Czech investment market, a trend we expect to continue for the foreseeable future.'
The seller was represented by Colliers International, Schöenherr and KPMG, whilst the buyer was advised by White & Case and KPMG.
