14:24 HB Reavis Group enlarge investment portfolio in Prague | |
| HB Reavis Group has completed the acquisition of another project in
Prague – Karlín. The River Garden Office II and III administrative
complex on Rohanské nábřeží street will offer a total of 24,000 sqm
leasable space. The acquisition thus took place one month after acceptance of the River Garden Office building, which the company built immediately adjacent to the future new office complex. "We are happy that we were able to conclude a contract with the Austrian property developer that owned the project. From experience we know that there is interest in high-quality A-standard offices in this location. We can also confirm our plan to conclude three similarly large acquisitions on the Prague market this year,” said HB Reavis Group CZ CEO Marcel Kasanický on the transaction. In his words, the total of up to one billion crowns of investments is planned into acquisitions. River Garden Office II and III consists of two seven floor buildings. "The project is comparable in size to the completed River Garden Office complex, which also played a role in the project purchase negotiations,” added acquisition manager Karel Konečný. HB Reavis will launch construction work in the fall of this year. The building is expected to be opened in the first quarter of 2014. Source: europaproperty.com | |
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