GLL Real Estate Partners (GLL) has purchased 100 percent of the shares in Skoduv Palac s.r.o, which is the owner of Skoduv Palac in Prague 1, from Guyana Holding Sarl. The 23,000 sqm office property is fully-leased on a long-term lease contract to the City of Prague in the city center, with access to the A and B metro lines along with seven tram lines. The historic Art-Deco style was built in 1929, and was comprehensively refurbished in 2006 exclusively for the City of Prague who house a number of public, administrative, and operational management departments within it.
GLL has global assets under management totaling approximately €7bn, and have been active in CE since 2004 where they currently manage in excess of €1.2bn of commercial real estate. This includes two other buildings in Prague: Wenceslas Square 3 in Nove Mesto, and Andel Park B in Smichov. GLL was advised by Wilsons, and DPK Management by Dentons. DPK Management Limited were advising the sellers in the transaction.
