AFI Europe has signed an agreement to purchase the Avenir Business Park office center in Prague 5, owned by one of the funds of the British company Tristan Capital Partners. The premium office complex with a total leasable area of more than 25,600 sqm is almost 100% occupied. Prestigious tenants include companies such as ČSOB, ING, Porsche, McDonald’s, Dermacol and Coloplast. The value of the transaction, including certain settlements, is EUR 66.5 million. The transaction will be completed as soon as the seller meets the pre-agreed conditions in the transaction contract.
“Our company has made a strategic decision that will allow it to generate long-term income not only through its own development projects, but also through acquisitions of existing real estate. Avenir Business Park enjoys long-term interest from major international tenants, who appreciate the project’s high quality and location in an area with excellent civic amenities. I would like to take this opportunity to thank the professionals who supported us in this transaction: Dentons, OMC Consulting for technical advice and KPMG for tax and financial services, ”says Doron Klein, AFI Europe Director for the Czech Republic.
Katarína Brydone, Head of Investment at CBRE Real Estate Consulting, adds: “This transaction confirms that the office market is healthy and still active despite the current pandemic. We perceive strong investor interest in quality assets. We are pleased to be able to represent the seller in this transaction and congratulate AFI Europe on expanding its office real estate portfolio. ”
Avenir Business Park is a holder of the green BREEAM certification. It offers premium office space with a flexible layout from 200 to 3,500 square meters. The complex occupies a strategic location halfway between the city center and Václav Havel International Airport with excellent transport links by both car and public transport.
