Azora, the Spanish private equity group, has acquired the Louvre office building in Prague 5, for 10 million.
In buying Louvre, Azora is entering the Czech property market.
"Azora's acquisition is the first deal closed in the last quarter 2010, and is hopefully a sign of the return of foreign investors to the Czech property market. Louvre was great opportunity, in an established location, fully leased with high-profile tenants (VZP and Lukoil), for a good price," says Angus Wade, Managing Director at King Sturge Prague.
About the Louvre office building
Louvre is a prime A-class office building in Prague 5 - in Radlická street, an established office location with excellent accessibility to and from the center of Prague. The building is known for its unique design by Chapman Taylor and AG Studio. In the proximity of the office building there is a wide variety of sport and relaxation options for tenants such as a sports complex with a swimming pool and multi-purpose tennis court hall.