News Article Czech open-ended fund buys Bratislava office building
by Ákos Budai | Investment

ČS Real Estate fund, the largest and oldest Czech open-ended property fund, managed by REICO, has acquired the Park One office building in Bratislava for €35.6 million from private investment firm Falcon II Fund. 

The transaction took the form of a transfer of 100% of the shares in the real estate companies that owned the property. One Park is located on Námestie 1. Mája in the Slovak capital’s city centre. The 13-storey building (with 3 underground levels) comprises 13,200 sqm of office space and 167 parking spaces. It is currently fully let, key tenants include Amazon, Zurich Insurance Company, L’Oréal and CBRE. 
 
The fund now owns eleven buildings in the Czech Republic and Slovakia, with an estimated value of €450 million. Park One was built in 2007 and designed by the SIAL architectural studio founded by Karel Hubáček. REICO is the real estate investment arm of České spořitelny bank which is part of Erste Group