REICO Nemovitostni has sold Rohan Business Centre in Prague in a sale whose reported value was €31.3 million. While lower than the last publicly reported valuation of the property, observers said the profitable sale price came in stronger than expected. The buyer was was Fio Realitní fond, which targets Czech and Slovak real estate assets. “The sale of Rohan Business Center proves the liquidity of our real estate portfolio and helps us optimized the sector allocation of funds while securing sufficient liquidity for future acquisitions,” says REICO’s chairman of the board Tomáš Jandík. The office building offers 9,434 sqm of GLA. The combined value of the debt and shareholder equity in the asset reported for 2021 just shaded CZK 800m.
The sale raises the average value of the fund to CZK 1.88 billion. REICO ČS Nemovitostní portfolio comprises 19 assets and has a market value of nearly CZK 36 billion. Recent transactions include the sale of Office Box and the acquisition of Bořislavka Centrum. Knight Frank, Wilsons and ASB were involved in the sale.
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