Trinity Bank’s real estate fund acquires Pankrác House in Prague

Trinity Bank’s real estate fund has acquired the Pankrác House office building in Prague from CPI Europe, a subsidiary of CPI Property Group. The transaction, valued at approximately CZK 1 billion (around €40 million), reflects Trinity Bank’s strategy to invest in high-quality commercial properties with stable occupancy rates.

Pankrác House, located near the Pražského povstání metro station, offers nearly 18,000 square meters of rentable space and is fully leased. Tenants include companies such as Multisport Benefit, media agencies from the Omnicom Media Group, and healthcare provider Canadian Medical. The building features modern amenities, including a lobby connected to a café and a 24/7 reception, a restaurant, underground parking, bicycle storage, and a fitness center.

Radomír Lapčík, founder of Trinity Bank, commented on the acquisition: “We focus on long-term investments in commercial real estate with attractive yields and stable occupancy. Pankrác House represents an excellent opportunity to further expand our portfolio of commercial buildings in sought-after locations.”

This purchase aligns with Trinity Bank’s ongoing efforts to strengthen its presence in Prague’s real estate market. In late 2023, the bank acquired a historic building on Na Příkopě Street, previously serving as the headquarters of Komerční Banka.

CPI Europe, led by Czech billionaire Radovan Vítek, has been optimizing its portfolio through significant asset sales to reduce debt following acquisitions of Immofinanz and S Immo. The sale of Pankrác House is part of this strategic divestment.

Trinity Bank’s acquisition of Pankrác House underscores its commitment to investing in prime commercial properties, enhancing its portfolio, and contributing to the dynamic business environment of Prague.