Caerus Investment Management (Caerus IM) announced that together with, and on behalf of the same private separate account client for which it acquired Phase II and Phase I of the same business park (respectively in 2015 and just last month), that it has now advised and structured the off-market acquisition of Phase III of “Futurama Office Park” located in Prague 8, Czech Republic, being the third and final phase of the park and which was newly constructed in 2016. The purchase price was undisclosed.
The Property was contracted to be acquired during mid 2016 whilst in the construction phase, via a forward commitment structure for an undisclosed final purchase price from Vienna’s Erste Group Immorent (EGI), the development subsidiary of Erste Group, Austria’s largest banking group.
Known as “Building F”, the property is a premium, brand-new, highly specified, office building leased to multiple tenants such as pharmaceutical company; Roche and the German stock exchange; Deutsche Börse/Clearstream on long-term leases. It provides 9,500 m² of state-of-the-art office premises which have gained a BREEAM Outstanding Certification due to its use of the latest thermal ground heating technology used by EGI in the building’s construction.
Christopher Millen, Managing Director of Caerus IM said: “This acquisition now completes what was a staged strategy to gain control of the entire Futurama Business Park. We and our client are therefore very pleased to have finally achieved this last milestone and to now control what we believe to be the premier business park in the Czech Republic which we will now further improve on via our active asset management and focused tenant relations”.
Richard Wilkinson, Chairman of EGI commented: “This is another successful transaction for EGI on the back of our sale in late 2016 of our larger “Enterprise” office building in Prague 4. We were very pleased to have been able to transact again with Caerus IM whom we recognised as a reliable counterparty that had the necessary sophistication to structure a forward-commitment style deal.”
