March 17, 2014

Sale of another administrative complex in Bratislava

Sale of another administrative complex in Bratislava

This year Bratislava has witnessed a marked improvement of investment activity by institutional investors. The first significant investment transaction in the commercial real estate sector is the sale of three buildings of the City Business Center III – V office complex. Tatra Asset Management has bought them into its Real Estate Fund.

The City Business Center III – V administrative complex in Bratislava will change its owner. The Real Estate Fund of Tatra Asset Management has become the new owner of three office buildings with the total rentable area of 25,000 sqm. The developer and seller of the complex is HB Reavis.

“This significant transaction is the first major investor activity on our market this year. But we have recorded more signals that, during the year, it is possible to expect further growth in the volume of investments in Slovakia,” commented Ermanno Boeris, Director at consulting company Colliers International, which represented the new owner of the buildings in the sale process.

The City Business Center III – V consists of two seven-storey buildings and one thirteen-storey building. The complex has been long-term rented by tenants such as Swiss Re, Johnson&Johnson, Sygic, Schneider Electric, HB Reavis, and others.
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