April 24, 2014

Qubix 4 Praha sold to REICO

Qubix 4 Praha sold to REICO

S+B Gruppe AG, the Austrian private project developer has successfully sold the Qubix 4 Praha, the 1st Czech LEED Platinum certified real estate project to the CS nemovitostní investment fund belonging to REICO Investment.

QUBIX 4 PRAHA has been awarded with the title of Building of the Year by the Czech Ministry for Construction and enjoys great popularity having an occupancy rate of 93 percent. Shortly after receiving the 1st LEED Platinum Certificate in the Czech Republic, the building has been also awarded with the title of Best of Realty.

After intensive negotiations, the building has been sold to the Czech CS nemovitostní fund, a real estate fund managed by REICO Investment. With a selling price of over €35 million, this deal has been the most important transaction on the Czech real estate market since the beginning of the year.

“Our main focus is currently directed to the core real estate market of the Czech Republic. The building stands on a prime location close to the city center and has an excellent visibility. The connection to the public means of transportation is outstanding,” commented Martin Skalický, Chairman of the Board of REICO investment company.

Franz Paul Bauer, management board member of S+B Gruppe AG, is proud to cooperate with a strong investor who appreciates the high quality standards of the building and shares the same philosophy: “We focus on high class developments in major cities, which are able to offer added value both to the owner and the tenants,” he said.

S+B Gruppe AG acquired the plot on Stetkova 18 in 2008 and commissioned the Vienna based architectural office of Prof. DI Ernst Hoffmann to design a project that maintains the existing building structure while creating an office project that meets today’s high standards of new developments.

Today, the new building offers a total area of almost 14,000 sqm of modern office and retail premises with 137 parking spaces. Well-known companies such as the technology firm ABB Asea Brown Boveri, the advertising agency BigBoard, the consulting company TMF, Adecco and OMV have found in Qubix 4 Praha their new business location.

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