Penta Investments has sold the Florentinum office building, its first development completed in the Czech Republic, to Chinese investment group CEFC. Florentinum is a LEED platinum certified property delivered in 2014 and home to 70 long-term tenants. The volume of the transaction has not been disclosed.
Florentinum, located in the heart of Prague, combines premium quality office space with a busy retail passage, courtyard and central park. The property totals 63,000m2 of leasable area (including 50,000m2 of offices and 8,000m2 of retail). Florentinum, the largest and the most modern office building in the centre of Prague, attracted prestigious long-term tenants such as consultants EY, HSBC Bank, Bank of China, Havel Holásek & Partners Law Firm and RSJ Investment Group.
The building won several awards, amongst others, the Financial Times CEE Quality Award 2014 for the best office development, Construction Journal Award 2013 and Best of Realty 2013, and is widely considered as the standard for offices in the Czech capital.
The tender process was organised and coordinated by JLL on behalf of Penta.