Saturday, July 4, 2020
Home News Investment Market Portland Trust buys Prague office park for €65 million

Portland Trust buys Prague office park for €65 million

Portland Trust and its long term joint venture partner Ares Management have purchased Office Park Nové Butovice in Prague 13 for €65 million. The seller was CEE Property Development Portfolio (CPDP 2). Office Park Nové Butovice offers 36,000 sqm of leasable space.

In line with its strategy, Portland Trust plans to renovate the complex so that it can charge €13/sqm/month in rent. The new owner is also planning to rename the complex Coral Office Park and upgrade the property’s public spaces, including adding a garden and expanding the restaurant.

Most Popular

Cordia to profit around EUR 38.2 million on the acquisition of Polnord

As part of its international expansion strategy, Cordia International Zrt. has recently acquired 93 percent of the shares of the developer Polnord...

TEDi opens its first store in Kielce

The tenants of Power Park Kielce, a property from the portfolio of the company managed by Griffin Real Estate - Chariot Top...

Strong H1 for Poland’s real estate investment market

EUR 2.9 billion worth of investment transactions is the second-best result in Poland's H1 history. Further, the pandemic quarter was better than...

Speedwell starts works on new mixed-use project in Timișoara

The works for Speedwell’s newest project, Paltim, will soon kick off in the city of Timișoara. The demolition permit has been issued...