Savills has announced the acquisition of Czech property management operation SB Property Services (SBPS) for an undisclosed amount.
Established in 2011 by Martina Bartek and Michaela Semanova, who will join Savills as directors, SB Property Services has 25 staff managing a portfolio of commercial properties comprising 185,000 m2 with a value of over €400 mln.
Clients include Commerz Real and Czech fund management company Reico, an investment company of Czech bank Ceska sporitelna. The portfolio includes flagship assets such as the Charles Square Center, the Melantrich Building, Rohan Business Center and the Trianon office building.
Savills has had offices in Poland since 2004 and opened an office in Prague in 2016. It has since established cooperation agreements with businesses in Romania and Hungary.
Ben Maudling, head of Savills in Czech Republic, commented: 'The acquisition of SB Property Services provides Savills with a market leading property management platform in the Czech Republic which has over €600 mln of assets under management. Importantly, this includes both valued international and local clients with properties in Prague and in regional cities.'
Michaela Semanova and Martina Bartek, co-owners of SBPS, added: 'It is an exciting time to join a global real estate brand at a time when they are actively expanding within the Czech market. Being part of a much larger organisation will allow us to offer wider selection of services to our clients and through the wider global network we hope to approach new clients and projects which will bring new opportunities to our team.'
