Amundi Asset Management has acquired Praha City Center in a deal that was completed in late February for a reported ā¬64m. The vendor was Curzon Capital Partners III (CCP III), a core-plus fund advised by Tristan Capital Partners. Built in 1997, the building was originally acquired by the fund in 2014 with Portland Trust acting as a co-investor. It offers 15,447 of office space along with 2,191 sqm of retail.
Jean-Philippe Blangy, Managing Director, Head of Asset Management at Tristan Capital Partners, said: āThe disposition of Praha City Center follows the successful conclusion of the business plan by increasing occupancy rate and improving the quality of the asset after the Fund completed enhancement work in the common areas. The building is set to become fully occupied following the finalisation of new long-term lease agreements with institutional-quality tenants. Tristan will continue to look for similar opportunities in Prague for our core plus and value-add funds.ā The fund was advised by Cushman & Wakefield and Wilsons.
