Ceskomoravska Nemovitostni (CMN) has completed the purchase of two office buildings CITY WEST C1 and C2 in Prague. The buildings have been purchased from CFH, a Luxembourg-based financial holding, for c. €74.5m (CZK 2bn). The original office buildings C1 and C2 are located in a modern area in the Prague district of Stodulky, near the eponymous metro station. It is more than 25,000m² of leasable space, which is a part of the CITY WEST office centre. The whole location is very easily accessible: D5 motorway, the Prague Circuit and the Prague Airport are all near. The building provides more than 2,000 workplaces.
Designed by AHK architekti, these state-of-the-art intelligent buildings were constructed in 2014. It is highly energy-efficient and environmentally friendly. Both buildings were one of the first office buildings in the Czech Republic to be awarded the LEED Gold certificate. Since 2015, the C1 has served as the headquarters of Vodafone Czech Republic. The tenants of C2 include CGI IT Czech Republic, Aevi CZ and CEMEX Czech Republic.
“One of the reasons we have been interested in this project is that it perfectly fits into our strategy of investing in real estate with high-quality tenants. An important factor has also been the fact that both buildings are highly energy-efficient, with LEED Gold certificates. Exactly after a year, we managed to complete the planned acquisition of all three buildings from the Luxembourg-based fund CFH. After the acquisition of Crystal Prague-Vinohrady and Blox in Prague-Dejvice, we have now extended our portfolio by the headquarters of Vodafone and other major companies,” said Radek Stacha, CMN’s chairman of the board, adding: “Despite some slowdown due to the Covid-19 crisis, we have managed to close the deal relatively quickly. The financing bank is Austrian Raiffeisenbank.”