Czech Finance Minister Andrej Babiš has started to invest in office properties through his investment fund Hartenberg. The fund acquired the Orchard office complex in Ostrava from Red Group. The Irish developer and investor will continue to manage the complex. The price of the deal was not disclosed. The fund manages CZK 5bn worth of capital for Babiš, who also owns Agrofert, one of the largest agricultural and chemical concerns in the Czech Republic. Completed in 2009, Orchard offers 36,000 sqm of office space in three buildings. The space has been leased to companies like AWT, Okin BPS and Siemens. Hartenberg is currently looking for additional office and retail investment opportunities on the Czech and Slovak property markets.
