Luxembourg-based Orco Property Group has acquired an office building in the BB Centre in Prague from Czech developers Passerinvest through its Endurance Office and Retail Fund for an undisclosed sum. The property, known as 'Building E', represents the fund's largest acquisition so far, and comprises 14,600 m[sup]2[/sup] of office space, 1,000 m[sup]2[/sup] of storage premises and over 300 underground parking places. It is currently leased in its entirety to the CEZ Group, the Czech Republic’s largest electricity producer. The Orco Property Group specialises in investing, developing and asset management in the Central European real estate and hospitality market, and currently managing assets of around EUR 1.3 bn.
Luxembourg-based Orco Property Group has acquired an office building in the BB Centre in Prague from Czech developers Passerinvest through its Endurance Office and Retail Fund for an undisclosed sum. The property, known as 'Building E', represents the fund's largest acquisition so far, and comprises 14,600 m2 of office space, 1,000 m2 of storage premises and over 300 underground parking places. It is currently leased in its entirety to the CEZ Group, the Czech Republic’s largest electricity producer. The Orco Property Group specialises in investing, developing and asset management in the Central European real estate and hospitality market, and currently managing assets of around EUR 1.3 bn.