Conseq Group has bought the A7 Office Center in Prague 7 from Revetas in a deal whose details have not been revealed. The 16,000 sqm building is located in the Holešovice neighborhood and was built based upon a concept of the French architect Jean Nouvel. During the three years of our ownership, we have exceeded our financial target and fully achieved our objective by transforming the A7 Office Center into a fully leased, stable and cash generating asset,” said Eric Assimakopoulos, managing partner at Revetas. He added that the transaction provided further evidence of the growing liquidity enjoyed by the region’s property markets thanks to the injection of local capital. Conseq’s chairman of the board of directors Jan Vedral said the deal marked progress in Conseq Real Estate Fund’s strategy of gaining exposure in all property sectors. “While our investments in retail and industrial properties have been successful in the past few years, we have been seraching for an office building that would resonate with our ideas of location, technical quality, tenant quality, and the level of the generated yield.” Revetas Fund II initially acquired the asset with a co-investor in 2015.
