IMMOEAST takes over Prague office park (CZ)

IMMOFINANZ Immobilien Anlagen AGs listed regional holding for Central and Eastern Europe, IMMOEAST, has acquired another property in Prague. The Prague Office Park is situated in a highly sought-after location in close proximity to the international airport. The airport can be reached within less than five minutes via a short stretch of the motorway. Even the drive to the city center takes just ten minutes. The location directly along the motorway to Germany is also an important location factor in Prague.

The companies settled there prove just how attractive the property is: the Prague Office Park is let 100%, the tenants being prominent companies such as Wella, Johnson Diversy CZ, Teekanne, AST, Trigema and SGS. Total lettable space for the first unit is approximately 6.000 m². The development of a second unit (POP II) is already in planning. Lettable space will then increase to a total of 10,000 m².

With this acquisition IMMOFINANZ will be able to enhance its presence in western Pragues up-and-coming office locations where it already owns the Airport Business Center and Rudna Logistics Park.

Altogether IMMOFINANZ already has over 31 properties with 703.858 m² total lettable space in Prague. Therefore, Prague is the number one in our portfolio, explains Chairman Karl Petrikovics. Apart from other acquisitions, we will expand our presence even more considerably through the continuation and realisation of the development projects which have already begun. In short, we are definitely the most important international real estate investor in the Czech capital.

IMMOFINANZ Immobilien Anlagen AG is presently carrying out a capital increase with a volume of nearly €1 billion. The subscription ratio is 3:1. The maximum issuing share price was predetermined at €9.00. The final price will be determined in a bookbuilding process. The subscription period continues until May 15.


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