A legal degree never hurts, but how did that help you get going here?
I have a transactional legal background. I’ve been in real estate for more than 10 years and a real estate lawyer since 2019. I was a transactional lawyer and did asset management as well. I find it really helpful to look at the transaction and the whole asset cycle from different perspectives. That’s where a lot of added value comes in. You’re not only looking at what happens during the transaction, but also what happens when you own the building.

It’s very exciting. I love to start really early on the deal because then you help the whole way through. Especially in deals where the transaction insurance makes a huge difference, that’s very rewarding. It’s also just a way for me to go out into the market and get the deal — that’s very satisfying. Especially since we’re the newcomer, with the less-established brand.

It sounds like before you were working on deals that other people brought to you. Now you’re out there, hunting on your own.
Exactly. When I was a transactional or real estate lawyer, I was doing prep work or sitting in meetings with a partner who got the deal. In asset management, we had landlord reps, so it wasn’t us going out. Now it’s me. It’s very satisfying to start from scratch. But it’s not just the transaction. I’m trying to build long-standing relationships with clients so I can help with the whole portfolio. They know they can call anytime. I think that’s very helpful.

Walk me through how a typical deal comes together in transaction insurance.
There are only a couple of options. Either very early on the client knows they want a clean exit, or they need to wind down the company after closing, or there’s some issue they need to secure. They might not want to give a corporate guarantee, so they’re looking for options. If they think of this early on and then I’m involved from the start. If there’s an issue that comes up and we solve it through transactional insurance.

How can insurance speed up a transaction?
Because you know early on that you don’t have to negotiate a lot of things in the SPA. The time limits, the financial limits, the baskets, all of those are usually covered by the insurance. The seller can wind down, and the buyer is okay with that, because they have the insurance company on the other side with a robust process for claims. Usually both sides end up satisfied.

If we come in later in a transaction because of specific risk that can’t be mitigated, that’s where you help overcome deal breakers.

What are the different products you offer?
There’s title insurance that secures your title to shares or real estate, including any identified title risks. Then there’s W&I insurance, warranty and indemnity, which secures the seller’s warranties in the SPA up to a limit. There’s also tax insurance, which secures tax risks above certain thresholds that you might not cover under W&I.

How has title insurance changed over the years?
The product has evolved a lot. It used to be a very formal product you got if there was an issue, so it acted more of a risk management tool, often connected with restitution proceedings. Now it’s more commercially minded. It’s also a financial tool because you save on lawyers’ fees since you don’t have to negotiate the SPA as much. For the seller, they get a clean exit. They can wind down the company rather than keeping the structure for seven years to warrant the fundamental warranties. More broadly, it’s moved on from being a very formal, fairly expensive tool to one that’s not so expensive anymore. We can do smaller deals and it’s more commercially minded.

Do Czech companies and international companies use it to the same degree?
Definitely not. Foreign entities usually use it a lot more. They’re used to it from their home countries. Czech clients know the old product from 10 or 15 years ago, which was expensive and more of a risk management tool. But as a Czech entity that understood the local risks, they usually didn’t need it unless there was a big issue.

Increasingly, Czech clients are going abroad where the other party required it, so they experience what’s essentially a completely new product. The pricing is way down. Once we explain it’s not only risk management but a financial tool, and they use it and find it’s a smooth process, they become more willing to use it again.

Just to be clear, they’re not buying the insurance from you. Explain where Reassurance sits in the food chain.
We’re a broker. We get all the information from the client, like the pricing and the insurance coverage from the insurers, both title and W&I. Then we prepare what we call an MBI report where we show the different options, different pricing, and propose what we feel is the best solution for the transaction. We take into account how the SPA or transaction is structured, what the due diligence findings are, and what both sides require.

How many other brokers are your clients typically talking to?
Usually you have only one insurance broker. The insurance companies have to give the same quote for the same deal. It’s not like they can give Reassurance a quote that’s 10% less than someone else, unless we present a different set of options. Technically you can shop for brokers before they go out and talk to the insurers. It’s not a cutthroat business. We’ll all try to get a deal. But I have to say the competition is very professional. Once you get the mandate, everyone else steps back.

How has the market changed even since you joined three years ago?
When I joined, I knew about five transactions and maybe one was insured, usually for some specific reason like a fund winding down. Now out of five transactions, maybe three are insured. The use of the product has accelerated as it’s become more commercial and more reasonably priced, even for smaller deals.

Which sectors are the busiest for you?
Everybody’s talking about residential, but that’s difficult for transactional insurance because at the end you have individual units. But built-to-rent is new, and we see a lot of BTR and student housing in Poland. I’m waiting to see if that comes here as well.

Poland uses insurance much more than the Czech Republic, partly because they’re much more funded by foreign entities. Here it’s about 90% Czech capital. In Poland it’s like 90% foreign capital. I sometimes see trends coming from Poland to the Czech Republic. In any case, for transactional insurance, it’s really logistics, office, and retail right now.

Do you think this year will be bigger than last, and next year bigger still?
I think it may be. We had a huge year in 2025, but I don’t think we’re slowing down in the next two years. What we saw last year was a lot of smaller deals in the first half and big ones in Q4. Now it’s been pretty consistent throughout the year. Small deals, big deals, mid-sized deals. It’s more of a mix rather than being weighted toward the end. We’ll see what Q4 brings.

Anna Vondrackova is Senior Transaction Advisor for REassurance

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That expansion option makes sense especiall when you learn that BP vacates in April 2028; after that, a Foster + Partners retrofit will strip the 1990s-era shell back to its frame, add two storeys and a roof terrace, and deliver 11,200 sqm of net office plus terracing across three levels. LBBW/Berlin Hyp and Aareal Bank are providing acquisition finance; YardNine, the London development manager behind EightyFen and Fifty Paddington, is running the redevelopment. The Hong Kong landlord clearly didn’t feel comfortable taking on the redevelopment and releasing risk.

It’s the second London office buy for Karel Komarek’s group in under a year — KKCG quietly acquired The Burlian at 80 New Bond Street from Hines for roughly £195 million in late 2025. That brings its combined London outlay to about £486 million. The UK platform is run by Peter Holden, poached from Partners Group early this year.

Komárek’s not the only Czechoslova with a view of the Thames. Penta Real Estate launched a £1 billion residential JV with Ballymore — a 52-storey Canary Wharf tower, Embassy Gardens units, and a Brentford scheme totaling 1,000-plus flats. HB Reavis sold Worship Square in the City for £185 million, while Daniel Kretinsky’s EP Group has completed a £3.6bn takeover of the Royal Mail. Czech capital accounted for 36% of all CEE-region investment in H1 2026 — and the domestic markets can no longer absorb it. London looks like a good place for the surplus.

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A passage, not a shopping center

The building’s ground level is organized around a passage connecting two bus stations and the neighboring park. Some 2,300 sqm of retail lines the route, all targeted at tenants of Hila and rest of the Brumlovka neighborhood. A corner bistro is already pre-agreed and other shops are negotiating about the placement of their shops. Forejt is in no hurry to fill the rest, preferring to get the mix right the first time.

“All of the retail in Brumlovka is a service organization for the rest of the campus,” he says. “We collect rent at all the units, but we set reasonable rents for the space.” Unlike your standard shopping mall, Passerinvest charges a flat fee, with no turnover component. It’s a long-term logic focused on placemaking, instead of immediate income. “You don’t want to rebuild the tenant mix every two years. We try to find services which are not in the area, or which are under-delivering,” Forejt says.

In a nod to the importance of community-building, a restaurant at Brumlovka is to provide discounted meals for seniors and others after 3pm. It’s expected that other providers would join this non-waste strategy. In one section of the sloping property, seven-meter ceiling heights allow for a space-in-space layout, creating the option of connecting to the floor above via internal staircases.

Radiant ceilings and lower service-charges

The office component of the building offers a variety of floorplates, maxing out at 4,000 sqm, but they all revolve around a generous atrium. Some of the outdoor terraces exceed 1,100 sqm. Starting rent is €24.50 per sqm per month on the lowest floor, rising to €26.50 at the top. Tenants who take less than 1,000 sqm can expect to pay an extra euro per sqm.

For Forejt, the building’s coolest technical feature is its radiant ceiling system. Instead of blowing conditioned air, chilled or heated water circulates through panels embedded in the ceiling. This transfers energy directly to surfaces and bodies below, much like standing in sunlight.

“It’s not delivering the temperature from the ceiling to the air, but rather to the first thing it connects with: it could be your body, the flooring,” Forejt explains. “It’s a different concept. Try to think about the energy as light.”

Since it deploys a far greater volume of water in the building’s system than usual, the building will keep cooling (or heating) for nearly an hour after machinery shuts off. Forejt says the next step is to exploit this thermal inertia by timing energy generation to periods of lower electricity pricing.

As for the bottom-line numbers, the service charge comes in at roughly CZK 111 per sqm per month. Assuming typical electricity consumption, total occupancy costs should amount to around CZK 138 per sqm.

71 apartments, operated in-house

Above the offices sit 71 rental apartments, ranging from 34 sqm studios to 136 sqm four-bedroom units. They are part of Passerinvest’s new in-house brand Balance Home, which will eventually operate around 400 rental units across Brumlovka and its planned Arboretum at Nove Roztyly district development. Leasing will be managed internally.

“If a major office tenant comes to me to request a flat to rent, we have to be capable of deciding,” Forejt explains. “If you outsource that leasing to a partner, you lose that ability.”

One building per year

Looking ahead, Passerinvest’s development schedule has turned into a production line. Hila is due in 2027. Sequoia and Orion follow in Q2 2028 and early 2029. Omega, still awaiting its construction permit, is targeted for 2030. After that, the company plans a full reconstruction of its Alpha building.

In fact, a series of reconstructions are on the way for Passerinvest, whose earliest buildings came online more than 20 years ago. That’s right around the time HVAC systems, piping, lifts, and bathrooms begin requiring heavy investment. Forejt estimates the cost of a full building reconstruction roughly equals the original construction cost.

To avoid major cash flow interruptions, Passerinvest has developed techniques for retrofitting occupied buildings, floor by floor. Ideally, this involves relocating tenants into flexible space within the campus while work proceeds. In some buildings, lease structures include options that allow Passerinvest to move tenants for full-building renovations temporarily. “You can’t always wait until tenants are moving out to begin work,” Forejt says. “In some buildings, it would not be possible to reconstruct the whole thing at once.”

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I was contacted by a number of people I’ve known from the past, and they’ve all indicated an interest to look at Hungary again. That’s good from my vantage point, because it hasn’t always been easy to show the value-add potential of Hungary. I’m enjoying this new wave sensation.

Also, because there’s a clean-out of the last regime, for lack of a better word, you see a more level playing field now with service providers. That’s the case in real estate but in many other industries as well. I think this will bring in a lot of new energy, new ideas, and creativity.

Can you give me an example of what you mean?
There’s a site in the middle of Budapest called Rakos Rendezopályaudvar, which is a huge, derelict railway station in the middle of Budapest of some 244 hectares. The Hungarian state did a deal with the Emirati development group Eagle Hills in recent years, that people dubbed “Mini Dubai”.

The approach to that project has changed dramatically because Budapest City exercised its preemption right and stepped into the contract. Budapest organized an international architectural competition for the site that’s attracted quite a number of firms. I’ve met some of them now and they’re all very international but combined with local firms. What’s so exciting is that suddenly they can get involved in the project, whereas in the past it would have been a closed shop.

In terms of the interest from foreign capital, how much do you think Hungary has actually missed out on? There aren’t many these days in the Czech Republic or Slovakia either, but that’s a relatively new situation.  

The Hungarian market has struggled for a number of years for international capital. In general, there were some very low years of investment. The war in Ukraine, inflation, energy prices, but it’s the high interest rates that have been the biggest issue because that just knocked out a lot of the market.

I think Hungary was fortunate in that domestic investors stepped up, whether it was the likes of Erste Bank open fund or OTP Banks fund or whether they were investors linked to the NER network (NER= System of National Cooperation — an ecosystem of domestic business elites and investment funds closely tied to the Fidesz party). In some ways, while you might question transparency, a number of legacy projects were picked up, finished, and completed. There were some terrible examples of properties left in disrepair that were then developed and have become functioning assets — hotels, for example. But yes, we’ve had the retreat of the Austrians and German investors. English money disappeared a long time ago, but that’s not an uncommon phenomenon as we know, investors come and go for many reasons, not just political.

The lack of transparency was one of the primary complaints of the new government and how they built support. Is there going to be a reckoning now on the property markets? Can it ever all be unravelled?

The new government has set up this policy of fiscal transparency and anti-corruption reforms. But the verdict’s out on how impactful that will be. Because everything was done on a “legal basis” in Hungary. You could argue there’s nothing to “unravel”.

On the one hand, you could question how some of these people became incredibly successful so quickly. A good example is the Gellert Hotel, part of a portfolio that had been owned by an English group. They made very few investments and let the property fall into a sorry state. Evenutally the hotel ended up in the possession of a group linked to a relative of Orban. On the other hand, scaffolding is up there and work is underway to refurbish it as a Mandarin Oriental. That’s a great use for an iconic, landmark hotel and it’s an improvement over what was there. It’s a huge issue.

Where are the opportunities today? Projects that have lain dormant for years? Existing properties where owners are suddenly looking for an exit?

There’s capital rotation underway. If someone owned a property and bought it 15 years ago, there’s a better chance of exiting today than there would have been a year ago.

I think the level of liquidity will increase. Personally, I don’t think pricing is going to change much — there might be more stock on the market, which could bring it down a bit. But in general, liquidity will increase.

Development will increase, especially in retail. We had legislation that banned retail plazas, but as I understand it, this is going to be watered down or repealed.

Also, Budapest is quite a strong target market for hospitality, as it has far fewer rooms than Prague, for example. And the tourist numbers are growing. Budapest has been bubbling away all these years and is actually working quite well. It’s just that these elections have given it all a bit of a shot in the arm.

Hasn’t there been a Budapest discount for years now? Yields for commercial property have always been a bit higher.

They’ve been higher, which was linked to the so-called country risk, and because banking debt was more expensive. There’s also a bit of historical context, because Budapest’s office sector tended to have high vacancy — we had 25% vacancy at one stage. But I think if things remain equal and the new government creates stability and is seen to be hitting the right path, you could see yields converge back down towards Prague levels.

How about your business? Are you seeing a new impetus now? More investors interested in getting into the city?

We do project and asset management, along with investment advisory, which has been my role. We’ve been working with Hungarian capital going out of Hungary for some time, thanks to which I’ve expanded my geography to other parts of Europe. That includes doing business in London, where there’s basically no Hungarian equity. By contrast, there’s a growing Czech present there (London), which is great to see. But while we’ve been trying to insulate ourselves by working abroad, it’s nice today to be able to dust off the old files on Budapest properties and help clients with them.

Have prices already risen because of the elections?

Right after the election weekend, I think owners probably added 10% to their asking price. It’s definitely firmed the resolve of owners.

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You’re winning a significant number of investment-loan tenders against the big banks. Why is that?

Vančura: It’s a combination of factors. Yesterday, I had a client here in the office and he told me were slightly worse on interest rate than a competitor. But he said they were happy with the service we offer and with our approach. These days we’re even competitive on pricing, but it’s also about the structures we’re open to and the flexibility. Sometimes we can offer higher LTV, but in general we’re still very conservative.

Šafránková: We have the advantage that we are a Czech bank. That means it’s Czech people decide about each loan, and they know the market here. We don’t have to send the final approval to France or Vienna, where they could have a different view. And we can decide quickly — one approval level, not three committees over several weeks. In selected cases we can get from first contact to drawdown in two months.

You say you’re conservative, so what that mean for you on LTV?

Vančura: In residential development we can do up to 90% LTV in some cases — combined with presale. With lower LTV we can go without presale. On investment loans, up to 80% depending on asset class.6

Šafránková: Of course, the 90% figure isn’t for a standard loan. We have to analyze each project carefully, because what actually protects you on investment loans is the DSCR, not the LTV. Whatever the LTV is, the cashflow is what stops you first. We only count on current rents and use very conservative growth assumptions.

You do bridge loans, as I understand it. What types of assets is that appropriate for? Can you back land deals?

Šafránková: Yes, but  selectively — if there’s a strong sponsor, with a quality locality. Bridge loans can be used for the acquisition of land where the permits aren’t in place yet, but the project is in line with the master plan. Or for a project that isn’t ready for senior financing. They can also cover the acquisition of a building that will be converted, for example, from office to residential. We can grant a one- to two-year bridge loan and then convert it into a development or investment loan. We just have to check each drawdown against the expected future value.

What’s your read on the Prague office market? Are you willing to lend?

Šafránková: We understand that headline rents need to reach at least €24 per sqm/month for new office developments in order to make financial sense. This floor has risen for developers because construction costs, financing costs and land costs have all increased significantly. Most developers tend to be optimistic about achieving that number, but we have to be careful.

On the other hand, there will still be a market for B-class offices in good locations at €15 or €16 for tenants who don’t need a triple-A buildings. Some companies don’t need a green-lease for their branding and they’re happy to stay where they’ve been for the past five or ten years. Location and employee comfort matter most to them.

Where’s the line between a functioning B-class building and a zombie asset on the edge of collapse?

Vančura: It’s location, the sponsor, current tenants, and the CAPEX plan. The real question is the building’s actual and future positioning in the rental market. The right rent attracts the right tenant. As Rita says, a B-class building doesn’t stop working automatically because it’s older.

Czech yields are the lowest in CEE. Is that justified?

Vančura: There’s very strong local demand from local investors, because there’s a lot of fund money and bond money in the market. This more than offsets the diminishing foreign investment. It shows trust in the local market and in political stability here. The question is to what extent it’s technically justified. I am conservative on this.

What’s missing is an investment alternative for Czechs because we don’t have alternatives like a stock exchange here with enough liquidity and titles. With property, people can see the buildings, they see the quality. Savings are at a historical maximum. The money is in the economy.

Where do you see interest rates heading?

Vančura: The conflict in the Middle East killed the hopes for decreasing rates. Central banks are afraid of rising inflation and the longer the conflict continues, the higher the risk of further increases. It’s as simple as that.

You’ve mentioned wanting to increase your exposure to hotels. What’s the attraction for you. It seems a bit unusual for a bank your size.

Šafránková: Not every bank wants to finance hotels, so there’s less competition. We are already active in this segment on a selective basis, and we want to increase our market share. The underwriting is different — you’re looking at revenue per room, seasonality, operator quality — but Prague is a strong hotel market and we understand it. It also fits our approach, which is to find sectors where we can be selective and add value, rather than fight on margin alone.

You say you’re conservative, but your strategy and your goal of doubling your loan book is pretty aggressive.

Šafránková: We have the plan and the appetite to increase our volume. Due to the increased capital we can bid on bigger volumes of financing, where we can offer flexibility, individual approach, and competitive conditions We are here and we are ready to finance new projects and new groups. We can afford it.

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At Chalupkova Offices, BASE takes a separate floor of approximately 2,300 sqm, fitted out as private offices starting at 16 sqm and backed by shared meeting rooms, phone booths, relaxation zones and kitchens. Leases start at one year, pitched at startups and small to mid-sized firms that want a representative address without a long-term commitment. Čechvala Architects designed the concept, and the public gets its first look at Forbes Business Fest Bratislava 2026, where Penta will operate a functional pop-up office with interiors by office design specialist HOSU.

“BASE was never created as a classic coworking, but as a product built on a combination of flexibility, a quality working environment and first-class client services,” said Michal Hranai, senior business development manager at Penta Real Estate. “We want to create a space that allows smaller firms or startups to operate in a technologically top-tier building at a premium address.”

For Alto, the acquisition rounds out its grip on Jurkovičova Tepláreň, the converted functionalist heating plant and national cultural monument at the heart of the Sky Park district. The new operation will carry the building’s name and combine offices, coworking and event space, with expansion to further floors under consideration. “Jurkovičova Tepláreň has in recent years become a natural centre of work, meetings and urban life in Bratislava’s downtown,” said Ján Bryndza, business director at Alto Real Estate, promising continuity for existing clients.

Penta, which managed assets of more than EUR 1.8 billion across 30-plus projects in Slovakia, the Czech Republic and the UK at end-2025, says it does not rule out adding flexible floors to its other office schemes. In Bratislava’s towers, flex is no longer the experiment; it is part of the spec.

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The numbers are real, but the mechanism matters more than the headline. CBRE data shows that nearly 60% of US buildings over 800,000 sqft (about 75,000 sqm) have dropped below 90% occupancy since the pandemic, compared with just 40% before Covid. Only 8% of US office stock is capturing essentially all new tenant demand — those buildings absorbed 4.7 million sqm since 2020 while the other 92% shed 17 million sqm.

But it’s not just remote work driving the trend. It’s the American corporate habit of leasing enormous blocks for operational
efficiency — then shedding them in a single strategic decision. Chevron vacated a 1.4 million sqft campus. Google subleased 1.4 million sqft. When a tenant occupying 30–50% of a tower leaves, the building collapses economically overnight.

Of course, it takes two to tango. No one forced landlords into such concentrated bets on single tenants, or lenders to underwrite the deals. The entire US office ecosystem — developer, landlord, bank, tenant — was optimized for scale  and efficiency. The whole system seems based around a world in which corporations only ever grow. When that assumption broke, the losses were structural, not cyclical.

Central Europe’s office markets evolved differently. Prague’s typical building runs 15,000–25,000 sqm with five to fifteen
tenants. Shared-service centres — the anchor tenants of the CEE office market — typically lease 5,000–11,000 sqm: significant, but rarely the whole building. When one leaves, the landlord faces a painful but survivable re-leasing exercise, not an existential crisis.

That structural resilience shouldn’t breed complacency. The interest-rate arithmetic compressing US values works the same way across the Eurozone. And the WSJ flags a threat CEE hasn’t priced in: the possibility that AI reshapes the white-collar headcount that shared-service centres depend on. The US fire sale is a story about building design meeting corporate volatility. The question for Prague and Warsaw is whether AI creates the same kind of cliff events — just with a different trigger.

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The sector has clearly moved past its land-grab phase. Annual net additions have averaged roughly 9,800 sqm since 2021, offset by around 4,600 sqm of closures per year. These happen as operators swap lower-quality buildings for premium product, exit underperforming locations, or lose sites to competitors.

The upshot is that 93% of stock now qualifies as Premium under Savills’ classification — despite just one third of it sitting in AAA-rated office buildings. Prague 1 and Prague 4 lead in both stock volume (around 30,000 sqm each) and competitive density. The 9th and 10^th districts are also popular locations.

Pricing remains one of Prague’s strongest selling points in a European context. The citywide average for a private office desk comes in at CZK 8,200/month (roughly €338) — making Prague the second most affordable flex market in Europe. Savills’ Workthere Flexmark data puts Lisbon as the friendlist in terms of pricing. By contrast, Warsaw runs 49% higher; Berlin, 135%.

That said, the report flags upward pressure ahead, particularly in Prague 1 and Prague 4, where limited prime availability and rising traditional office rents are feeding through into flex pricing. At just 3% of monitored office stock, the flex penetration rate suggests the sector has room to grow. But the power brokers at the top of the food chain make it likely expansion will largely be dictated by the strategic decisions of a handful of players.

But Savills recommends landlords can take advantage of the existence of the niche market to develop flexible solutions for tenants. This can be achieved through partnerships with operators or by integrating flexible space as part of a broader in-building service offering.

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The purchase consolidates INVESTIKA’s position in a district where it already owns Galerie Butovice shopping center, adjacent land parcels, and the Avenir E office building. “Consolidating ownership in the area allows us to develop the commercial potential of these properties synergistically,” says Jaroslav Kysela, board member of the fund’s management company. It’s the kind of straightforward cluster strategy that tends to work—assuming the tenant stays put.

Butovice Offices becomes the fund’s 64th property, capping what Kysela describes as a record year for capital inflows. Since December 2024, INVESTIKA has deployed nearly CZK 5 billion across seven acquisitions spanning 10 locations. The most significant was November’s purchase of Centrum Południe 3 in Wrocław, a 21,500-square-meter office complex fully leased to BNY Mellon’s European headquarters operation. That building carries LEED Platinum certification with Europe’s second-highest environmental score. The fund has also picked up office properties in Szczecin, Poland, and an aviation training center near Vienna.

With assets under management now exceeding CZK 27 billion, INVESTIKA has positioned itself as the largest Czech and Slovak non-banking real estate fund serving retail investors. The fund is already working on another transaction scheduled for Q1 2026, suggesting the acquisition pace shows no signs of slowing.

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The transaction value makes it one of the largest transactions in the office real estate segment in 2025, as the price exceeded CZK 2.3 billion. Savills, Clifford Chance, TPA and Sentient represented the seller with Wilsons, ASB and Cushman & Wakefield advising the buyer.

“Following last year’s successful acquisition of Prague’s Palác Křižík, it made sense for us to strategically strengthen our position in Brno as well,” said SPM partner Kateřina Skalická. “Our operational goal will be to further increase occupancy while maintaining a high standard of service for our tenants.” She said SPM Invest will continue searching for suitable real estate assets. “We will now be looking primarily for attractive residential properties, especially those located in Prague 5,” says Skalická.

Corebridge’s COO Kevin Reid said the sale showed the value in focusing on best-in-class development. “This discipline has allowed us to consistently achieve liquidity, even with larger office lot sizes in challenging markets.”

Stuart Jordan, CEO Savills, Central & Eastern Europe, adds: “Irrelevant of market cycle, real estate of high build quality will always show its resilience in attracting and retaining tenants and therefore benefitting from strong liquidity fundamentals.”

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