Skanska Property Czech Republic sells its office development Riverview in Prague, Czech Republic, to a fund managed by the global investment manager, Invesco Real Estate. The value of the transaction amounts to €20 mln. The sale will be recorded in the fourth quarter 2014 and hand-over of the property is scheduled for the second quarter 2015.
The building, situated in an evolving business district of Prague 5, Smichov, offers approximately 7,000 m² of leasable office space out of which 90% is leased to a pharmaceutical company MSD. Riverview is scheduled to be completed in December 2014 and aims to receive LEED Gold certification.
Skanska Commercial Development Europe initiates and develops property projects in office and commercial buildings. The company’s operations are concentrated in metropolitan areas in the Czech Republic, Hungary, Romania and Poland and are conducted in four local units: Skanska Property Czech Republic, Skanska Property Hungary, Skanska Romania and Skanska Property Poland.