Immofinanz divests office building in Prague

Immofinanz divests office building in Prague
The BBC Gamma office building in Prague

Immofinanz has divested the BBC Gamma office building in Prague.

Passerinvest Group, a real estate developer in the Czech Republic, purchased the property.  

The building covers around 31,000 m² and is fully let to a single tenant on a long-term basis. 

The office building is located in the urban center in the 4th district of Prague with a total of 10 floors for rent. 500 parking spaces are available in the basement. 

The architectural design includes panoramic lifts, meeting rooms that extend over two floors into the atrium, and a roof garden with relaxation areas.

“As part of our portfolio strategy, we are concentrating on retail properties and myhive office solutions. In doing so, we also want to divest buildings worth around €1 billion and reinvest the proceeds from these sales in real estate and further strengthen our brands or use them to repay debt. The sale of BBC Gamma is an important step in line with strategy, and we are very satisfied with the result,” says Radka Doehring, CEO of Immofinanz.