Zeitgeist Asset Management acquired Palác Dunaj on Národní třída in Prague 1 from Eurovia CS. The price of the deal was not disclosed. The historic 1930s asset, purchased on behalf of a German pension fund, is the 18th property Zeitgeist Asset Management has acquired. The building was designed as the then-headquarters of the Austrian insurance company Donauversicherung in Prague by Adolf Foehr, a German architect and a student of Jan Kotěra. It offers a total leasable area of 8,965 sqm. Tenants include the Czech Bar Association and the Fischer travel agency. Eurovia decided to offload the property as it has new headquarters in Prague 4-Krč, which better meets its needs. Zeitgeist is planning to modernize Palác Dunaj to increase its capital value, while maintaining its architectural value.
