Českomoravská Nemovitostní completes landmark aquisition worth CZK 5 Billion

Českomoravská Nemovitostní (ČMN), the third-largest office landlord in the Czech Republic, together with the NEMO Fund, has finalized its largest acquisition to date—a real estate portfolio valued at approximately CZK 5 billion. The transaction, completed with NOVA Real Estate Fund, encompasses five premium office buildings with a leasable area exceeding 37,000 m² and 11 retail parks spanning 72,000 m², marking ČMN’s entry into the retail property segment.

The acquisition includes notable Prague office properties such as Smíchov Gate, Anděl 17, Idea Office Building, Victoria Vyšehrad, and Panorama Business Centre near the National Museum. These modern and strategically located buildings boast excellent accessibility and offer tenants high-quality, representative spaces. Tenants include prominent international and local companies like Google, Hochtief, Cemex, and Mercedes-Benz.

In addition to office properties, the portfolio features retail parks anchored by well-known tenants, including Ahold, Penny Market, OBI, and Tesco. This diversification aligns with ČMN’s strategy to broaden its asset base with profitable properties that generate stable, long-term returns.

“We are thrilled to announce the largest acquisition in our history and one of the most significant transactions on the Czech market this year,” said Radek Stacha, Chairman of the Board at ČMN. “This deal reflects our commitment to strategic growth. While the market has been challenging in recent years, this acquisition was worth the wait, enabling us to diversify our portfolio with high-quality assets that align with our long-term investment goals.”

The acquisition was financed by Germany’s Helaba Landesbank Hessen-Thüringen. “The Czech investment market remains one of the most attractive in Europe. We are proud to provide financing for this milestone transaction with our long-standing client ČMN,” said Jürgen Schleimer, Director of Real Estate Finance CEE at Helaba.

The sale was conducted by REDSIDE, the investment company managing NOVA Real Estate Fund, as part of its strategy to liquidate the fund’s portfolio following investor decisions. The process was completed within six months.

“We congratulate ČMN on this landmark acquisition and extend our thanks to all advisors for ensuring a smooth transaction. Completing such a large deal on schedule was a challenging yet successful endeavor,” said Rudolf Vřešt’ál, Founder and Chairman of REDSIDE.

Savills, acting as the advisor for REDSIDE, highlighted the competitive tender process that led to the sale. “ČMN’s offer stood out due to its strong commercial terms and deep understanding of the portfolio,” noted Stuart Jordan, CEO of Savills.

The acquisition significantly strengthens ČMN’s position in the Czech commercial real estate market. Known for its focus on properties with stable cash flow and long-term value growth, the company continues to expand its portfolio underpinned by a strong financial foundation and a team of seasoned professionals.

The transaction is subject to final approval by the Competition Authority. Once integrated, the newly acquired assets are expected to bolster ČMN’s reputation as a leading player in both the office and retail property segments.