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News

AEW successfully sold International Business Center

12.07.2017
Company: CBRE s.r.o.

  • IBC consists of ca. 23,800 sq m of lettable area and 299 underground parking spaces in 9 above ground floors and 2 underground floors.
  • The sale of IBC represents a successful exit for funds managed by AEW Europe who have owned the property since it was built in 1993.
  • The office sector should dominate the investment market this year.

CBRE has advised AEW Europe, a multi-national real estate asset manager, with over €60 bn of assets under management, in the disposal of International Business Center (IBC). The buyer was Mint Investments, the Central European real estate Investment & Asset manager, on behalf of a syndicate of private investors. AEW were advised by CBRE, Havel, Holásek & Partners and Mazars. Mint Investments were advised by Mareš Partners and EY.

Built in 1993, International Business Center consists of ca. 23,800 sq m of lettable area and 299 parking spaces. IBC lies next to Hilton Hotel, in the heart of Karlin’s growing CBD. The Property comprises an iconic building with nine above ground floors and two underground floors. IBC is certificated with BREEAM In Use Very Good.

Chris Sheils, Head of Investment Properties at CBRE says:

 “It has been a pleasure working with both AEW and Mint and I would like to congratulate both teams on closing such an important transaction.  We had strong interest in this property from a broad range of investors, indicative of the continuing level of demand for high quality office buildings in core locations that can deliver robust income returns”.

In H1 2017, the total investment volume reached almost EUR 2.1 bln. It was the strongest H1 in terms of volume in the history and on a rolling 12 month basis, volumes to the end of Q2 surpassed a new record of EUR 4.9 bln.

In H1 2017, the retail sector dominated the market with a 46% share, followed by offices with a 26% share of investment volumes.

We forecast that total investment volumes in 2017 will once more breach the EUR 3 bln level.

Tags: Real Estate | Business Development | Awards & Achievements |

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