Immofinanz sells Prague office building to Passerinvest Group

Immofinanz has successfully closed the sale of the BBC Gamma office building in Prague to Passerinvest Group. The transaction was concluded at a premium to the book value as of 30 June 2022, the seller announced.

Commercial real estate group Immofinanz has sold the BBC Gamma office building in Prague 4 to developer Passerinvest Group. The building has roughly 31,000 sqm and is rented in full to a single tenant through a long-term lease. The transaction was concluded at a premium to the book value as of 30 June 2022.

“As part of our portfolio strategy, we are concentrating on retail properties and my hive office solutions. This also includes the sale of properties with a combined value of roughly €1 billion and the investment of the proceeds in properties to strengthen our brands or for the repayment of debt. The sale of BBC Gamma is an important step in line with our strategy, and we are very pleased with the results“, commented Radka Doehring, member of the Immofinanz Executive Board.

This office building is located in the urban centre of Prague’s 4th district and has rentable space on 10 upper floors as well as underground levels with 500 parking spaces.  Its architectural design offers features such as panoramic lifts, meeting rooms which extend into the atrium over two floors and a roof garden with rest areas. The Gamma office building comes from the architectural studio Aulík Fišer architekti.

In line with its strategy, Passerinvest has bought back the seventh building in Brumlovka into its portfolio. In 2014 the Alpha building, in 2015 the Beta building, in 2016 the Building A and Building B buildings, in 2017 the Building D building and in 2018 the Villas building.