The Valesco Group has made its first Slovakian real estate acquisition on behalf of South Korean investors.

The London-headquartered European manager, together with AIP Asset Management, bought the newly developed fully-let Twin City Tower for €120m from HB Reavis.

The 23-storey Twin City Tower, mostly let to Amazon, is located in the Nove Nivy zone.

Shiraz Jiwa, founder and CEO of The Valesco Group, said: “This prime asset coupled with an exceptional principal tenant in Amazon in the growing core of Bratislava offers a unique and compelling investment opportunity.

“It is rare to find an alignment of macro, micro and real estate fundamentals that will together drive value over our holding period.”