CBRE Global Investors, with $87.6 billion assets under management, has announced the successful sale of the Tancici Dum building, also known as the “Dancing Building” in Prague, for c. €13,350,000 (c. CZK 360,000,000). The buyer was Mr Vaclav Skala, a well-known real estate investor and art collector.
The property is located in the CBD of Prague and comprises approximately 3,950 sqm of lettable space over seven floors. The main tenants of the building are CBRE Global Investors and Accenture. The Dancing Building is one of the modern architectural symbols of Prague and Czech Republic and was designed by renowned architects Frank Gehry and Vlado Milunic. The iconic building impresses a multitude of inhabitants of Prague as well as tourists visiting the city.
Commenting on the transaction, Martin Sabelko, Head of CEE, CBRE Global Investors said: “We are very pleased with the sale of the Dancing House as it clearly demonstrates the liquidity of our assets. The future plan of the buyer is to gradually open it up to the public, which is befitting of this property for others to enjoy the wonderful views of the City of Prague. The Dancing Building is a modern and well-located building, qualities that we as a business recognise and CBRE Global Investors CEE will remain as tenant after the change of ownership.”
Clifford Chance and Jones Lang LaSalle advised CBRE Global Investors.