Transaction of Palladium, Prague

Award: Investment Deal of the Year, CEE
Name of the deal: Transaction of Palladium, Prague
Value of the transaction (in EUR): EUR 570 million (property value)
Yield: N.A.
Seller, plus brief information about the company: A private equity company, which was represented by Hannover Leasing
Consultancy which advised Seller: CBRE
Purchaser, plus brief information about the company: Union Investment - A leading internationl investment manager specializing in open-ended real estate funds for private and institutional investors (AuM of some 28 billion EUR in 20 real estate funds).
Consultancy which advised Purchaser: CBRE
Financing institution: The acquisition was supported by a loan facility with Bayern LB and Helaba as lenders, Helaba acting as arranger and agent.
Current occupancy level: 97,8 % (30.09.2015, based on rental income)
Please say why this deal should be considered for the award: Palladium is one of the largest shopping centres in the Czech Republic, boasting 200 stores across 41,000 sq m of retail space plus 18,000 sq m of office space and attracts more than 15 million visitors a year. Palladium is home to a broad mix of tenants, including anchor tenants Marks & Spencer, H&M, C&A, Samsung and Esprit, as well as Böhringer and CBRE in the office space. The transaction is the largest property deal ever recorded in the Czech Republic and the largest single asset transaction in Central Europe ever.


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