PPF Real Estate Holding has acquired the Mansell Overlook office park in the US city of Atlanta, with the sale price exceeding USD100m (about Kc2.1bn) and the acquisition marking the company’s first real estate transaction in the US, PPF said on its website today.
The transaction was one of the last ones arranged by PPF founder Petr Kellner, who died in a helicopter crash in Alaska in late March. Market data suggest the transaction was worth as much as USD142m (Kc3bn), according to E15.cz, which was the first to report the information.
“This acquisition will serve as the platform for future investments by PPF Real Estate in the US real estate market,” said Aaron Smith, PPF Real Estate’s US managing director.
Source: CTK, PPF and The Brookdale Group
The office campus features four buildings with a total area of 61,000 square metres, surface and structured parking, and an empty plot intended for future development. Tenants include Yardi, the largest US software developer for the real estate industry, Berkshire Hathaway of US investor Warren Buffett, and health insurer Humana.
PPF invests in a number of sectors, including financial services, telecommunications, media, real estate, biotechnology and engineering. Besides Czechia, it is active in 24 countries in Europe, Asia and North America.
