AFI Europe Czech Republic has closed on the acquisition of Avenir Business Park in Prague to EPISO 4 (advised by Tristan Capital Partners) and its operating partner and co-investor Mint Investments. It’s being sold on after undergoing a successful turnaround including new leases and lease renewals for 23,000 sqm of the space along. The vendors also undertook a €4 million capex program to improve common areas and tenant premises and to secure BREEAM certification. Current tenants of the building, which is located next to Galerie Butovice, include Porsche, Porsche Engineering, McDonald’s, Conduent, ČSOB (KBC Group), ING Bank. “Avenir Business Park offers premium office space with a flexible layout in a strategic location,” said AFI Europe’s director Doron Klein, adding it was exactly the sort of asset the company wants to fill its growing portfolio with. He said the price for the 25,600 sqm building was €71 million.
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