The Endurance Office and Retail Fund, managed by Orco Property Group, and Passerinvest Group have announced the successful acquisition of the building E of BB Centre in Prague. Building E is an A Class office building offering original lay-out and architectural solutions. There are seven overground and four underground levels with approximately 14,600 m² of office space and 1,000 m² of storage premises. In addition there are also over 300 underground parking places available. The entire property is currently leased to ÈEZ.
The Endurance Office and Retail Fund, for which it was the largest acquisition so far, acquired 100% shares of BBC Building E, a.s. Throughout the whole transaction the fund was represented by a team of lawyers from the Global Real Estate Group of Salans, lead by Jiøí Strínek. Passerinvest realized the transaction without any external advisers.
"An A Class office building in such an attractive locality like BB Centre will doubtlessly increase the value of the Office and Retail Fund. From a commercial premises point of view, this is one of the most interesting locations in the capital and we are happy that we managed to extend the list of our properties at a place like this," said Ale Vobruba, Senior Vice President of Orco property Group.
The building is a part of the administrative complex BB Centre in Prague 4. Passerinvest Group, the developer of the project, has been operating on the Czech market for 15 years. Strategically strong location and modern technical background will allow future tenants to fully exploit the potential of the area.
"The sale of the building has confirmed BB Centre as an interesting investment opportunity. I believe that it will remain like this also in the future," said Radim Passer, Chairman of the Board of Passerinvest Group.
Source: Orco
