Aviva Investors and LaSalle Investment Management have acquired River Garden II & III in Prague, on behalf of the Pan-European Fund Encore+ for €84 million. River Garden II & III, developed by HB Reavis is Class A office building with ground floor retail, located in the Karlin district of Prague. This is the first acquisition that Encore+ has made in the Czech Republic.
Encore+ is a diversified, Continental European real estate fund which aims to deliver stable and growing income alongside long-term capital appreciation, from an actively-managed portfolio, in a monthly-dealt, open-ended fund structure. The fund has been co-managed by Aviva Investors as fund manager and LaSalle Investment Management as asset manager for over 10 years, with LaSalle also being responsible for all deal sourcing for the fund.
