The Slovak developer Corwin has sold its Blumental mixed-use office project in central Bratislava to a ZFP Investments fund. Tenants in the 16,000 sqm building include Zurich Insurance, JLL, TPA Audit and P3 Logistics. Savills worked with the vendor along with Dentons and Flatiron. MiddleCap, Havel & Partners and KPMG acted for the buyer. “The conclusion of this transaction at such a time in the market cycle reiterates that core assets with strong all-round fundamentals are sought after and tradeable,” says Fraser Watson of Savills. Corwin’s CFO Robert Mitterpach says the abandoned Blumental site was a black mark on the city’s map when they bought it. “Today, we hand it over as one of the most successful office projects in the country and a beating heart of the surrounding district.” Corwin completed the first phase of the project (a mix of office, retail and residential) back in 2017.
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