PRAGUE, November 11, 2015: Colliers International announced today that it has advised on the disposal of the Olbrachtova 9 office building in the popular Prague 4 office district to a local property fund represented by Mint Investments. The gross transaction volume is around €50 million, which represents the largest single office investment transaction to be closed in the Czech Republic during 2015.
The grade A office property, which was constructed in 2002, offers 19,000 m2 of office and retail premises over ground and 12 upper floors. Key tenants include Státní fond životního prostředí ČR, Opel, Provident Finance and Raiffeisen Bank.
The transaction represents the first acquisition by this local property fund, a fund representing private Czech investors. The purchase was made in partnership with Czech based asset manager MINT investments, who represented the buyer throughout negotiations and will provide ongoing real estate management services.
Sebastien Dejanovski from Mint Investments said “We are very pleased with this acquisition, Olbrachtova 9 offers a compelling combination of a high quality office building in a strong location, excellent tenant mix, enjoying great access and visibility”
Chris Sheils, Investment Services Director at Colliers International commented “We are very pleased to have been able to advise the seller on this disposal and to have worked with Mint Investments in this transaction in the Czech Republic. This is another good example of the continuing expansion of the capital base for the Czech investment market, a trend we expect to continue for the foreseeable future.”
The Seller was represented by Colliers International, Schoenherr & KPMG, whilst the buyer was advised by White & Case and KPMG.