Swedish property and construction group Skanska has sold its Corso Court office project in Prague to investment manager Invesco Real Estate, acting on behalf of one of its German separate account mandates.
Swedish property and construction group Skanska has sold its Corso Court office project in Prague to investment manager Invesco Real Estate, acting on behalf of one of its German separate account mandates.
Corso Court is a new office scheme in Prague’s Karlín business district. Designed by architect Ricardo Bofill, it provides 17,200 m2 of GLA and is fully leased, with tenants including Expedia and Skanska.
The transaction price amounted to €55 mln.
'Our successful acquisition of Corso Court, on behalf of one of our long-standing German separate-account clients, confirms the continued demand from institutional investors for good-quality, core assets let to strong tenants in the Czech Republic,' said Tomáš Pícha, director, CEE Transactions at Invesco Real Estate.
'The sale of the Corso Court office project is our second transaction conducted together with Invesco Real Estate in Prague’s office market. We are pleased that global players, active in the international real estate market, appreciate the high quality of our office products and return to Skanska when looking for new opportunities,' added Adrian Karczewicz, Transaction director at Skanska Commercial Development Europe.
Invesco Real Estate was advised by Colliers International, and Cushman & Wakefield acted as the exclusive agent to Skanska. Legal advisers for the transaction were Wilson and Partners for the purchaser and Dentons for the seller.
