BPD Development acquires Cube office building in Prague (CZ)

BPD Development acquires Cube office building in Prague (CZ)

Peakside Capital has completed the disposal of the Cube office building in Prague to BPD Development for an undisclosed amount. Built in 1977, the 21,500m², iconic office building was acquired by Peakside in 2016, as part of a CEE separate account vehicle and was the company's first office investment in the Czech Republic. The asset is almost fully occupied by a variety of tenants, representing mainly companies in the health and technology sectors.

 

Michał Nawrot, Principal at Peakside’s Warsaw office, commented: “This disposal is a great example of a successful value-add investment, realised within a two-year window. The Czech market continues to see improving levels of liquidity whilst it is also gaining in maturity. We look forward to continuing our investment activity in the Czech Republic."

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