Palmer Capital has sold four class B office buildings to a local Czech fund managed by the investment group Amista. Two of the buildings are located in Brno, with the two others in Olomouc and in Frydek-Mistek. Palmer Capital sold them to the Czech 1. RUIF for over CZK 200m. “For 1. RUIF, the transaction represents a continuation of strategy of focusing on the regional cities of the Czech Republic,” its chairman of the board, Michael Sanitrnik, told the daily Hospodarske noviny.
Palmer Capital’s portfolio consists of 59 office buildings in 31 locations purchased in 2008 from Telefonica. It plans to dispose of the portfolio by 2016.
