Crestyl buys palace in central Prague

Crestyl buys palace in central Prague

Published at: 2017-12-05 10:51 | Author: CIJ Journal
Crestyl has acquired the building located at nam. Republiky 7 from VB Real Estate in a transaction that went through last week. The building is located next to Kotva at the beginning of the pedestrian zone. "We're continuing in our strategy of acquiring unique buildings in lucrative locations," says general director Omar Koleilat. He added that the company's plans for the building are not complete but should be made public within a year. "We definitely want to return the palace to its original splendor and reconstruct it so that it properly represents one of the most important locations in the Czech Republic." Dentons represented Crestyl in the transaction from a legal perspective, while Colliers was engaged on the agency side. The price of the transaction was not revealed.

Similar Stories:

Two new tenants moves to Wilanów office complex
Two new tenants took nearly 4,000 sqm at Wilanów office complex in Warsaw. A company spec  »
Building N1 of Coresi Business Park fully leased
Building N1, part of the second phase of Coresi Business Park in Brasov, is currently full  »
CBRE opening new office in Brno
Czech Republic  ♦  CBRE opening new office in Brno
CBRE has opened a new office in Brno, a move it claims is the first by an international re  »
NewWork opens first location in Poland
NewWork, a serviced office operator from Hungary, took 3,200 sqm of flexible space at Wila  »
Shopping centers accounted for 134,000 sqm of the growth. The biggest projects delivered i   »
Portland Trust has begun construction on Building C, the final phase of Oregon Park. A sig   »
Ghelamco has sold building B of the Warsaw Spire office complex for €100 m. The buyer of   »
While the development of fully mixed projects remains rare (few developments include a res   »