Trinity Bank’s real estate fund has purchased the Pankrac House office building in Prague from billionaire Radovan Vitek’s CPI Europe group.
Specific financial details of the transaction were not disclosed, but reports place it at around CZK 1 billion, or around EUR 40 million.
“We focus on long-term investments in commercial real estate with attractive yields and stable occupancy,” said Radomir Lapcik, the founder of Trinity Bank. “The Pankrac House building represents a great opportunity to further expand our portfolio of commercial buildings in sought-after locations.”
The office building has 18,000 square meters of rentable space and is fully occupied. Tenants include Multisport Benefit, media agencies from the Omnicom Media Group, and healthcare provider Canadian Medical. The complex includes a lobby connected to a cafe and a reception desk open 23 hours a day, a restaurant, an underground garage, a bicycle-storage room, a fitness room, and fully equipped conference rooms.
Image source: www.cpre.cz