Investment company Amundi Czech Republic has sold a historic Art Nouveau building at Parizska street 3 in Prague, which serves as the Prague headquarters of Louis Vuitton, to the Raiffeisen real estate fund, which is managed by the Raiffeisen investment company.
“For the Raiffeisen real estate fund, this is a significant transaction underlining the chosen strategy,” said Vít Svoboda, portfolio manager of the Raiffeisen real estate fund. “Parizska 3 is synonymous with the best in terms of quality, location and tenant. Louis Vuitton – the world’s most valuable and biggest fashion icon. We are glad that we were able to complete this transaction with the support of our advisors and the trust of our shareholders. However, luck also smiled a little on us. The still perceptible absence of otherwise predatory foreign capital on the market allowed us to compete with other interested parties and acquire the property under conditions that meet our expectations.”