Colliers International Czech Republic concludes acquisition of landmark Prague office building (CZ)

Charles Square Center purchased for nearly €90 mln. through the international property consultants

Colliers International Czech Republic has announced that it successfully concluded the acquisition of the Charles Square Center, a landmark Prague office building. The transaction of nearly €90 mln. was on behalf of Colliers International client Commerz Grundbesitz Investmentgesellschaft (CGI), a German fund.

The Charles Square Center totals 31,000 m² of gross area on nine floors. The Class A building was originally developed by GE Capital Golub in 2002. Located directly above the Charles Square metro station, its strategic location has attracted key clients like Ernst & Young, Rafeissen Bank and Philip Morris.

Brent Watkins, Director of Investment for Colliers International Czech Republic, handled the acquisition and commented, "We have been successful in the past few years by advising clients in strategic acquisitions and working in a discreet fashion. We work exclusively with good clients and both buyer and seller were very pleased with our service in this transaction."

Thomas Ridout, Managing Director of Colliers International Czech Republic, said, "I am delighted that Colliers was chosen for a deal of this magnitude, it demonstates we are trusted by the market to handle the biggest transactions."

Source: Colliers International

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