Crestyl sells Central Kladno to Portiva

The developer Crestyl has sold its shopping center Central Kladno for around CZK 2 billion. The buyer is the Portiva investment group, which plans to continue investing in the 27,000 sqm shopping center. Central Kladno opened in 2015. Portiva began exclusive negotiations with Crestyl in March, just as the country went into lockdown during the first wave of the coronavirus pandemic. In this transaction at least, the buyer appears unconcerned by the potential of new virus outbreaks. It's also going against the grain in the sense that internationally, big retail centers are not in favor. Portivo owns the Astrid Offices building in Prague and a retail park in Brno.