Penta Real Estate has sold the five office buildings that make up the Waltrovka complex to GLL on behalf of its client, the South Korean based firm Hanwha Investment & Securities. The unconfirmed price being reported by media outlets was over €250m. Along with Aviatica and Dynamica, Walter, Mechanica I and Mechanica II were sold for a total of 80,000 sqm of office space. Penta was represented by Cushman & Wakefield in the deal, while GLL’s legal advisor for the transaction was Wilsons. GLL, which is active across the region, also owns Škodův Palác and Anděl Park B. Penta took over the Waltrovka site in 2012 from the developer Red Group.
“The high quality of construction and blue-chip calibre of the anchor tenants, together with continued growth prospects for the Prague office market make us excited to have completed this transaction,” said Philip Wood, Head of CEE Transactions at GLL.
“High interest among international investors for the administrative complex at Waltrovka is a confirmation of our strategy of high-quality development with focus on architecture, sustainability and public areas” says Pavel Streblov, director of commercial real estate, Penta Real Estate.
