Prague,
16
November
2016
|
17:02
Europe/Amsterdam

CBRE represented the ČSOB Group during the successful sale of Kateřinská 40 ofice building in Prague

Summary

The CBRE Company, the world leader in commercial real estate services, was involved in the successful sale of Kateřinská 40 office building in Prague. In this transaction, CBRE represented Merrion Properties, s.r.o., which is part of the ČSOB Group and were the sellers of the property.

The modern office building at Kateřinská 40 is located near Pavlova Square and was formerly used as their headquarters, as well as PwC, among others. The building passed its inspection in 2000 offering about 8,000 sq m of flexible office space for lease. Besides its excellent location, plenty of civic amenities and excellent transport accessibility, this property offers ample parking in the basement. The offices on the top floors offer tenants an exceptional panoramic view of Prague.

PPF Real Estate, s.r.o. is the new owner of the property, whose acquisition of the building at Kateřinská 40 in Prague marks their return to the market in the Czech Republic after a long time. “This is a purely an opportunistic transaction that perfectly fits into our business model for the entire European region that we operate in,” said Jiří Tošek, executive director of PPF Real Estate. Based on mutual agreement, the transaction price has not been released.

About CBRE

CBRE Group, a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2016 revenue). The Company has approximately 75,000 employees and serves real estate investors and occupiers through approximately 450 offices worldwide (excluding affiliates). CBRE offers a broad range of integrated services including project management; property management; investment management; valuation; property leasing; strategic consulting and research and consulting. In the Czech Republic, CBRE has almost 350 employees and manages nearly 70 commercial premises with a total area nearly 1.2 mil. sq. m. Read more at www.cbre.cz.