Europa Capital has completed another acquisition for its pan-European investment fund, Europa Fund IV, acquiring Hadovka Office Park, Prague for €43 mln, reflecting a 9% initial yield. Hadovka is a 25,000 m² office building situated in a prominent position on the Evropska corridor in Prague 6.
The Property is 100% leased to a number of international and national tenants. Hadovka offers a high quality but affordable environment for its tenants and offers many on-site facilities such as a full restaurant, gym and café. Europa will invest significant capital into the asset and will be seeking to optimise the tenant mix going forward.
Resolution Capital Management Ltd, a specialist CEE Asset Management company owned by George Leslie, has co-invested in the project with Europa and will be providing asset management services to the Project.
German lender pbb Deutsche Pfandbriefbank provided a senior acquisition loan to the project.
Source: Europa Capital