CORPUS SIREO Real Estate has acquired the Oasis Florenc
- Oasis Florenc consists of ca. 18,700 sq m of lettable area in 7 above ground floors and 141 parking spaces on 1 underground floor.
- The sale of Oasis Florenc represents a successful disposal for an investor who bought the property 2 years ago.
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.
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.
About Corpus Sireo
CORPUS SIREO is a multi-disciplinary real estate service provider which has received numerous awards. The company operates as a fund and asset manager, investor and project developer in Germany and other European countries. It also acts as a co-investment partner for pan-European real estate investments. CORPUS SIREO employs approximately 530 staff at 11 locations in Germany and Luxembourg, and is part of Swiss Life Asset Managers. With companies in Switzerland, France and Germany, Swiss Life Asset Managers manages real estate assets with a total value of approx. 68 billion Euros (as of 31.06.2017). CORPUS SIREO manages special funds with a current volume of 2.3 billion euros. The company has expertise and its own presence in the German regional markets as well as in the health real estate sector, where the company is one of the German market leaders.
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.