Russian property magnate Boris Mints, the majority owner of O1 Group, recently acquired a 16-percent stake in CA Immo from Unicredit Bank Austria. While the portfolio includes trophy assets such as office projects River City in Prague’s Karlín neighborhood as well as the Bratislava Business Center and BBC1 Plus in Slovakia, it also includes chronic loss-makers such as the shopping center Šestka near Prague’s international airport in Ruzyně. The cumulated loss of the retail project is estimated at CZK 500m. Bruno Ettnauer, CA Immo’s general director, commenting on the half year results, said that the company planned to offload its strategically irrelevant properties. CPI Property Group and S Immo were also vying for the portfolio, which was valued at €3.8bn at the end of last year.
