The CCP III real estate fund managed by Tristan Capital Partners has acquired Praha City Center from German based GLL Real Estate Partners GmbH. The transaction for the A class office building on Klimentská street in Prague 1 closed at €51m. Colliers and Cushman & Wakefield acted as advisors, while Wilson & Partners acted for the seller on legal matters. The seven-story, stand-alone office building offers 18,000 sqm of usable space, including retail units on the ground floor and a large underground parking garage. The list of tenants includes Baker & McKenzie, Regus and Amgen. Tristan Capital is planning to refurbish the building’s common and office areas in an effort to retain its high-profile tenant list and to attract others to relocate, said Daniel Harris, managing director at Tristan Capital.
