Max Realitní Fund acquires Myslbek office and retail complex in Prague

The Myslbek office and retail complex, located on the prestigious Na Příkopě street in the heart of Prague, has been acquired by Max Realitní Fund from its previous owner, Anatol Invest Holding B.V. The asset management of the property was previously handled by AEW. The transaction was facilitated by Savills and iO Partners, which jointly represented the seller and provided commercial advisory services.

Completed in 1996, the Myslbek complex offers 16,940 square meters of premium office space and 7,736 square meters of retail space. The building features seven above-ground floors and four underground levels, which include 326 parking spaces, a rarity in such a central location. Myslbek uniquely connects Na Příkopě with Ovocný trh, offering a strategic link between two of Prague’s busiest public squares. The building, named after a prominent artistic association that once exhibited in the area, is a key part of Prague’s commercial landscape and is poised to further enhance the vibrancy of the surrounding community.

Fraser Watson, Head of Investment at Savills, expressed his appreciation for the opportunity to be involved in the transaction and extended gratitude to AEW for their trust in the advisory team. He also wished Max Realitní Fund success in ushering in a new era for the landmark property.

According to Petr Strýček MRICS, Head of Capital Markets at iO Partners, the sale of Myslbek underscores the continued demand for prime real estate assets in Prague. He praised the work of the previous owner in maintaining the property’s value and expressed confidence that Max Realitní Fund will continue to uphold its legacy as a dynamic business and retail hub.

Richard Morávek, co-founder of Max Realitní Fund, described the acquisition of Myslbek as a unique investment opportunity in one of Prague’s most coveted locations within the city’s “Golden Cross”, spanning the area between the National Museum, Můstek, and Náměstí Republiky. He emphasized the fund’s commitment to enhancing the property while preserving its architectural integrity. Plans include revitalizing the interiors, diversifying the tenant mix, and potentially introducing a high-end dining zone to create a more engaging and dynamic destination for visitors.

Max Realitní Fund envisions Myslbek as an integral part of Prague’s evolving cityscape, aiming to seamlessly integrate the complex with Na Příkopě street and Ovocný trh, further solidifying its status as a prime commercial and cultural destination.

The final transaction price and yield remain undisclosed as per the agreement between the buyer and the seller.