Patria investicni spolecnost has announced it successfully completed the acquisition for CSOB Real Estate Fund of two properties in the center of Prague from Amundi: the Forum Karlin building and the Ibis Praha Old Town property.
Patria investicni spolecnost was founded in 2016 and is part of CSOB and the global KBC Group network. It creates real estate investment opportunities for CSOB Private Banking and Wealth Office clients. The properties were acquired by CSOB Real Estate Fund. The fund was established in 2024 as a fund for qualified investors with the aim to gradually build a diversified real estate portfolio and subsequently open the fund to retail clients of CSOB.
Forum Karlín is in the heart of Karlin with a total leasable area of 21,037 square meters, combining offices, retail space, and an event hall.
Ibis Praha Old Town is in Prague 1, which includes a hotel (287 rooms with a long-term lease agreement with a renowned operator) and a dermatology clinic with a total leasable area of 14,507 square meters.
According to Patria, this acquisition brings further diversification to the CSOB Real Estate Fund, making it more attractive to investors from the retail and private banking sectors. The existing portfolio of logistics and production halls and retail parks in the CSOB Real Estate Fund has been enriched by the office and hotel segment, and the value of real estate in all Patria Investment Company funds has reached CZK 10 billion.
CMS advised Patria on the acquisitions.
Image source: Patria investiční společnost – LinkedIn