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Florenc Office Center sold

Anna Pakulniewicz 08 January 2019

Anna Pakulniewicz

Journalist

+48 22 356 25 07
anna@eurobuildcee.com

Ania covers the Baltic states’ real estate markets, architecture and urban planning in Warsaw as well as interior design. She is also the co-founder of Eurobuild TV. Among others, she has been employed by TVN CNBC, PAP Insider, WBJ (The Observer), Poland Monthly and IMM. She graduated from the Warsaw School of Economics, majoring in international relations. She has also completed postgraduate studies in macroeconomic analysis. In addition to this, she studied Lithuanian philology

Florenc Office Center sold
Florenc Office Center building houses KPMG’s Prague headquarters

CZECH REPUBLIC ZFP Investments has sold the Florenc Office Center building, which houses KPMG’s Prague headquarters, to Korean-based investment manager Shinhan Investment Corp for around EUR 50 mln.

CBRE represented ZFP Investments during the negotiations and the transaction is the first direct real estate investment in the Czech Republic by a Korean investor.

“The sale of Florenc Office Center represents the culmination of a wide range of services that we in CBRE provided our client with, including representing them in the renegotiation of KPMG’s lease, providing property management and accountancy services and also providing them with project management during the comprehensive refurbishment that the building underwent,” said Peter Wojtusiak an associate director at CBRE.

“I would like mention the work of our consultants and thank them for it. CBRE and our legal advisors Havel & Partners took an active role throughout the entire transaction (...), as did our financial advisors from TPA,” stated Peter Lukáč, a board member of ZFP Investments.

“There have been a number of Korean investors looking at the Czech market over the last twelve months and we have been working closely with a number of them. Further significant transactions are likely to be closed in the near future. (...) Despite this new wave of interest from Asia, the Czech market is still very much dominated by European investors. Over the current period starting from 2009, 70 pct of all investment transactions have come from European investors,” stated Chris Sheils, the head of property investment at CBRE.


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