The EPISO 4 opportunistic fund, advised by Pan-European real estate manager Tristan Capital Partners, has acquired the Avenir Business Park office complex in western Prague from debt restructuring firm Lone Star. The purchase price was undisclosed.
The 25,300 m² office complex is configured to accommodate a wide range of tenants, with high specification flexible spaces ranging from smaller 300 m² units to larger 3,500 m² units for occupiers requiring the highest number of workstations on a single floor.
Karol Bartos, Executive Director Portfolio and Asset Management at Tristan, said: “This off-market deal was secured by our local operating partner and coinvestor the Mint Group, at an opportune time in the cycle. Demand for office space in Prague is around the highest level for ten years and the Avenir Business Park sits in the Prague 5 district, which was the second largest office sub-market in the city in terms of take-up of space last year.”
Lukáš Schirl, Partner at Mint Investments, said: “Avenir Business Park represents a unique opportunity to acquire a modern prime business park that benefits from state of the art technical specifications and flexible office space. Avenir Business Park is easily accessible by car as well as public transport and in close proximity to infrastructure, services and recreation areas. This includes a landscaped garden which forms an integral part of the scheme. These amenities are critical for companies wanting to attract talented employees in a market with extremely low unemployment rates.”
