Redstone Real Estate buys Prague office building

20th March 2017 | Ákos Budai

Spanish investment fund, Azora Europa l, has sold Galleries Louvre, their prime office property in Prague 5, to Redstone Real Estate, a private equity platform. The counterparties agreed not to disclose the price. The property is a mid-sized office building offering approximately 4,800 sqm of prime administrative space and is fully and long-term let.  

Azora Europa, a Spanish investment company represented by JLL, has sold Galleries Louvre, their flagship office property in Prague 5, to private equity firm - Redstone Real Estate. The mid-sized, A-grade building, completed in H2 2008, offers approximately 4,800 sqm of prime administrative space. The property´s tenants include LAFE, VZP and Stadler. 
 
The seller was assisted by JLL as its property advisor and CMS Cameron McKenna as its legal advisor. The buyer was assisted by Squire Patton Boggs as its legal advisor and Deloitte as its tax and financial advisor.