Falcon Real Estate Investments sold Palác I.P. Pavlova in the Prague city center to Standard Life Investments for around CZK 450m. The price of the transaction represents a yield of 7.5 percent. Market sources say that Falcon, a Spanish real estate fund, managed by CBRE Global Investors, is offloading its properties before closing down. Palác I.P.Pavlova is located on top of the I.P.Pavlova metro station. The building offers 7,000 sqm of office and retail space, with an underground parking garage. It is currently 90 percent leased to companies such as Regus, Oberbank, Coface and Laufen.
