CORPUS SIREO Real Estate has acquired the “Oasis Florenc” office property in Prague from an international investor. Due to its location in the increasingly popular 8th district of Florenc, between Nové Město (New Town) and Karlín, the property counts among the most sought-after office buildings in the capital city of the Czech Republic. The purchased asset is located near the Vltava river and will now be included in the pan-European DEREIF SICAV-FIS fund. The parties agreed not to disclose the purchase price. The seller was advised by CBRE and Kinstellar. Corpus Sireo were advised by TPA and bpv Braun Partners.
The property was completed in 2007 and offers 18,700 sq m of office and retail premises with 141 parking spaces. Oasis is home to reputable tenants such as J&T SERVICES, ELI LILLY, Wolf Theiss or Cisco Systems. The property has been successfully managed by EURAMCO Asset Czech (formerly SachsenFonds) since its development in 2007 until closing this transaction.
Chris Sheils, Head of Investment Properties at CBRE says:
“Congratulations to Corpus Sireo on finalising their debut acquisition in the Czech Republic. Oasis Florenc is a high quality multi-let office property located in one of the most important districts in the city with great accessibility. This sale represents a positive exit for our client, whilst also offering a great long term investment for a large institutional investor.”
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.