BMO Real Estate Partners (BMO REP) purchased the Van Graaf department store in Prague 1 from MTK Developments. The price of the transaction, which BMO undertook on behalf of its European investment real estate investment fund, was not disclosed. The department store, located on Wenceslas Square in central Prague, offers 12,000 sqm of retail space, which Van Graaf leased for 28 years. The brand opened its department store in 2010. This is BMO REP’s eighth acquisition for its fund, which reportedly raised the portfolio’s value by more than €600m. Jerome Feltham Property Advisory, Kinstellar, Atoz and White & Case advised BMO Real Estate Partners on the transaction.
