Savills News

Savills advises CBRE Global Investors on the acquisition of Praga Studio, Prague

On behalf of one of its global separate account clients, CBRE Global Investors has acquired a best in class office building in central Prague from Skanska. Savills were advising CBRE GI on the successful acquisition.

Praga Studios office building was completed in the second quarter of 2019, totalling 12,089 sq m and is located in Prague 8, one of the fastest growing office submarkets in the city. The building is fully leased and thanks to its high technical standards is expected to receive LEED Platinum and WELL Core & Shell certificates.

Myles Sanger, Portfolio Director, CBRE Global Investors, said: “We are building a well-diversified office portfolio for our client in EMEA and Praga Studios is a high-quality addition to their existing assets.”

Fraser Watson, Director, Investment Advisory at Savills in Prague, said, “We are delighted to have provided advice on such a high profile and quality office building, recently completed by one of the region’s leading commercial developers, on behalf of our client CBRE GI. Competition to acquire the asset was high and this successful transaction is testament to the high caliber of all parties involved. Congratulations.”

Savills advisory team are active across all commercial real estate sectors, providing a broad range of services and able to assist and add value at any stage of the real estate process. For more information please contact our Investment Department

 

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