Mandates assigned for sale of Louis Vuitton building and The Square

Published: 01. 04. 2024

Mint Investments has put the Louis Vuitton building on Pařižská Street on sale for its owner Realitní fond KB. Hospodářské noviny, which broke the story, says the building was valued at CZK 1.26 billion in 2020, but that this could now exceed CZK 1.5 billion. The 2,000 sqm building underwent a complete renovation in 2014 by PPF Real Estate, ahead of its sale in 2016 to Realitní fond KB, which is managed by Amundi.

Mint Investments partner Sebastien Dejanovski says no substantial CAPEX is needed for the building, and that Louis Vuitton recently renewed its lease for another 10 years. Realitní fond KB, however, is winding down on-schedule, thus triggering the divestments. Amundi has assigned Cushman & Wakefield to handle the sale of Pařižská 3, while CBRE will be in charge of selling The Square at Budějovicka (also owned by Realitní fond KB). Last year, the City Point office building in Pankrác was sold off to WorkLounge for in excess of CZK 450 million.

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