Hannover Leasing has off-loaded City Center České Budějovice to an undisclosed buyer. The German closed end fund has had the property in its portfolio since 2008. The Class A office building, offering 21,000 sqm of office and retail space is fully let as the Czech headquarters of E.ON, while the retail passage is leased to a mix of tenants including bank and fitness center. “The prime real estate market in the Czech Republic has seen a dramatic improvement in transactional activity over the course of 2011. This represents the first major investment transaction in the Czech Republic this year and we believe it is just the beginning of what will be a successful year,” says Karolína Matoušková, partner from Cushman & Wakefield’s Capital Markets Team, who brokered the transaction.
