Property investments on the Czech market were up 50 percent y-o-y in the first nine months of 2015, with the volume hitting CZK 63bn (€2.33bn), according to Colliers International. The retail sector was the most active with deals totaling €172m, €170m of which closed in the third quarter alone. One of the biggest deals in Q3 was KB Realitní Fond’s acquisition of the Louis Vuitton store on Prague’s prime luxury shopping street, Pařížská. Realitní Fond KB is a new Komerční banka real estate fund.
The office sector reported €206m in closings during the third quarter, up by 77 percent q-o-q. Realitní Fond KB acquired the Olbrachtova 9 building in Prague’s Budějovická neighborhood for around €50m. The logistics sector was relatively quiet this quarter, closing only two transactions. The residential sector, meanwhile, reported the biggest deal of Q3: Round Hill Capital acquired the RPG Byty residential investment platform from Czech billionaire Zdeněk Bakala for €700m. The portfolio includes 43,000 rental apartments in the Ostrava region.
