Skanska Property Czech Republic is divesting its office project, Vyehrad Victoria, in Prague to the HRI Immobilienfonds Nr.1 of the Austrian Hypo Real Invest AG for 13.5 million. Hypo Real Invest AG has through the investment made its first cross border acquisition in the Czech Republic.
"We are pleased that Hypo Real Invest AG chose a Skanska project for its first investment on the Czech market. The high quality and strong image of the building in combination with Skanska's brand and financial stability has made the realization of this project a success in challenging market conditions." says Britta Cesar Managing Director of Skanska Property Czech Republic. She adds: "Our focus ahead is on new green office developments in Prague and Ostrava."
HYPO Real Invest AG indicated: "Vyehrad Victoria as a solid building is the right premises for our market entry. We are happy that we had the possibility to buy from an established partner like Skanska. As the Prague is one of the most reliable markets in CE further investments of HYPO Real Invest will follow."
Jones Lang LaSalle Capital Markets acted as advisors to Skanska and CB Richard Ellis Capital Markets advised Hypo Real Invest AG on the acquisition of the Property.
Vyehrad Victoria, designed by Aulík Fier Architekti architectural practice, is located in Prague 4 near the Prague Congress Centre. The eight-story building offers high-quality and flexible A-class office space. It is easily accessible and offers its clients attractive and comfortable offices in an exclusive location.