Deka Immobilien GmbH has acquired the City Green Court office building in Prague. The purchase price amounts to around 53.7 million and the vendor is Swedish property developer Skanska. The property, which is situated in Pankrác, part of the renowned Prague 4 district, will be added to the portfolio of open-ended mutual property fund Deka-ImmobilienEuropa.
The property is designed as a sustainable green building and was the first office building in the Czech Republic to be pre-certified with LEED Platinum status. It is still under construction and offers around 17,300 m² of lettable area on eight floors.
The building is set to be completed this year and is almost fully let. The main tenant will be accounting and consultancy firm PricewaterhouseCoopers with a branch of its Czech subsidiary. In addition to other office properties, there are shops, several restaurants and a metro station in the immediate vicinity.
Through the purchase of the City Green Court offices, open-ended mutual property fund Deka-ImmobilienEuropa is continuing its strategy of primarily acquiring properties with a sustainability certification. The acquisition also increases the Czech share of the fund's portfolio from 1.6% to 2.1%.