Invesco Real Estate, a global fund manager acquires the Corso IIa Office Building in the heart of Prague’s Karlín district on behalf of one of its German separate account clients. The Seller and sales price remain confidential. Cushman & Wakefield and Wilsons represented the buyer in the sale process, the seller was represented by CEE Knight Frank and PRK Legal.
„This transaction is another prove that Karlin has already its solid place in the market and not only with tenants but also key investors. This year Prague 8 has seen over 300 mil EUR of investments into offices, which makes it by far the most popular location in this respect in Prague,“ says Alexander Rafajlovič, Partner in the investment team in Cushman & Wakefield.
Corso IIa was completed in late 2008 and provides c.13,000 sq m of Grade A office accommodation. It is home to the Vitra Design Showroom and international office.
“The acquisition is part of the implementation of our strategy to buy prime properties in core locations, where we can retain and enhance value though our on-the-ground asset management teams,” comments Tomáš Pícha, Senior Director - CEE transactions for Invesco Real Estate.