Czech investor Tomáš Fiala, owner of the Ukrainian group Dragon Capital, is reportedly selling the Euro and Astra palaces at the bottom of Wenceslas Square in Prague 1 to the Česká pojišťovna property fund, part of Generali group, according to e15. The daily is reporting that the deal is estimated at CZK 1.1bn, representing a yield of under 4 percent. Fiala bought the assets for a total of €42m in 2014, representing a 6-percent yield. Neither Mint Investments, which manages the portfolio for Fiala, nor Česká pojišťovna has confirmed the news. The value of Euro palace increased when Mint Investments leased the bottom floors of the building to sports fashion retailer Foot Locker, which will open its European flagship store there.
