Acquisition of Praha City Center
Award:
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Investment Deal of the Year, CEE
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Name of deal:
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Acquisition of Praha City Center
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Value of the transaction (in EUR):
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51,000,000
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Yield:
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WND
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Seller, plus brief information about the company:
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GLL
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Consultancy which advised Seller:
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Colliers International
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Purchaser, plus brief information about the company:
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Tristan Capital Partners (CCP III)
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Consultancy which advised Purchaser:
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Cushman & Wakefield
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Financing institution:
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PBB
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Why this deal should be considered for the award:
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The CCP III core plus real estate fund advised by pan-European real estate investment manager Tristan Capital Partners, has acquired a Grade-A office building in Central Prague from Germany’s GLL Real Estate Partners GmbH for around €51 million. The seven-storey standalone building is located on Klimentska in Prague 1, the city’s main commercial and administrative district. The property was constructed in 1996 and has a floor area of about 18,000 square metres, including ground-floor retail units and a large parking garage. Tenants include Baker & McKenzie, Regus and Amgen.
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