Generali’s real estate fund has acquired UniCredit bank’s headquarters at nám. Republiky in Prague 1. Generali paid CZK 790m for the 5,500 sqm building, according to market sources. The deal is a sale-and-lease-back transaction, as the bank is contracted to lease the space for at least another ten years. UniCredit spokesman Petr Plocek told the server lidovky.cz that the bank will continue to offer full retail services to its clients in the building. The building was the last property UniCredit owned in Prague. In 2012, it sold the former Živnobanka building at Na Příkopě to CPI for CZK 890m and moved its staff to the new headquarters in BB Centrum area in Prague 4.
