The REICO managed fund ÄS nemovitostnĆ fond has acquired Forum Business Center I for ā¬46.2m (CZK 1.25bn) from HB Reavis, bringing the value of its portfolio of nine buildings to CZK 6.3bn. The building is the headquarters for Slovak Telekom in Bratislava. In terms of volume, this investment is one of the yearās most significant transactions in Slovakia. It also confirms claims from across the spectrum of property professionals in the country that major investment deals are currently in the works.
āThis has been a successful year and we are pleased by the milestone that, for the first time, clients invested more than CZK 4bn into our fund in a single year. That means that the value of the fundās capital in mid-December amounted to nearly CZK 8bn, with more than 34,000 unit holders having invested into the fund as at the end of November,ā said Filip Kubricht, chairman of the board of directors of REICO ÄeskĆ© spoÅitelny. ÄS nemovitostnĆ fond has produced a yield of 2.9 percent over the past five years.
