Triuva sells Prague office portfolio to local investor

German asset manager Triuva has sold a portfolio of four office properties to the Czech investment company Redside for an undisclosed amount.

Together, the properties provide 25,000 m2 of total space as well as 238 underground parking spaces. The assets were built between 2004 and 2008, and are spread out over the Prague office districts of Andel, Pankrac and Butovice. They boast an occupancy rate of 100% with tenants including BNP Paribas, Pfizer, Google and Porsche.

'With this sale, we successfully marketed the fourth portfolio within a short space of time and again proved that we can make proper use of market cycles in the interests of our investors,' commented Manuel DeVigili, head of investment management at Triuva. 'The Czech Republic and Prague in particular will remain very interesting markets to us for new acquisitions in the future.'

CBRE, Schönherr, Rödl & Partner, TPA Horwath and Whitestar Real Estate advised Triuva on the transaction. Colliers, CMS Cameron, McKenna, ASB and Sentient worked for the seller.