CA Immo sells Visionary office building in Prague

CA Immo has completed the sale of the Visionary office building, located in Prague’s Holesovice district. The property offers approximately 25,500 square meters of gross lettable area and generates annualized gross rental income of around €4.3 million. Including leases with future start dates, the building’s occupancy rate stands at 93%.

Keegan Viscius, CEO of CA Immo, stated: “With Visionary nearing full occupancy, we have completed our business plan for the asset. This sale allows us to leverage current market liquidity to reallocate capital and monetize future profits where further value creation would be limited under our current model.”

The transaction is part of CA Immo’s ongoing capital rotation program, aimed at concentrating its portfolio on high-quality, modern office properties in prime inner-city locations. As part of this strategy, the company is divesting assets that do not align with its core investment focus based on factors such as asset class, location, building quality, and value creation potential.

Proceeds from the sale will be used to support value-enhancing investments, including the expansion of the company’s prime development pipeline in Berlin, debt reduction, general corporate purposes, capital distributions to shareholders, or selective acquisitions should suitable opportunities arise.

CBRE acted as the commercial advisor and Dentons served as the legal advisor to CA Immo during the transaction.