Forum Ústí looking for a buyer

11 December 2015

Forum Ústí nad Labem is on the market. The regional shopping center has attracted interest from several potential buyers, including RSJ, according to the daily MF Dnes. The financial group owned by the Czech businessman Karel Janeček already operates a similar project in the region: Centrum Pivovar in Děčín. Lukáš Musil of RSJ Private Equity told the paper that Forum is strategically located and has minimum competition in the city. The group, however, withdrew from the tender after the first round, with Musil explaining that the group wants to diversify its investments and will invest into a different segment. Michal Skuhra of Naxos told the paper that CZK 900m would be a good price for the center, which cost the developer, Multi Development Czech Republic, CZK 1.8bn to complete in 2009. The director of Forum, Michal Ešner, says the 27,000 sqm center is 97 percent leased, and revenues grew 7 percent y-o-y in 2015.

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