US-based group Lincoln Property Company and Czech investment group Enern have acquired the Palác Karlín office building from Kirkby Invest, part of the Lego family brand, for an undisclosed amount.
Located in the heart of Karlín district, right in front of the entrance to Križíkova metro station, the asset provides 15,900 m2 of high-quality office space and retail on the ground floor.
The building is fully leased to a mix of national and international tenants including Ricardo Prague, Inco engineering, LHMS, and Albi.
Štefan Puci, investment director at Lincoln Property Company said: 'The acquisition represents the first real estate investment with our JV partner Enern and fits very well into our joint strategy of investing into assets with a future upside which are located in key strategic submarkets.'
'We have been actively reviewing investment opportunities in the real estate for some time now. This sector is part of our long-term vision: we are building complementary portfolios of asset classes that are attractive for our investors. We view Palác Karlín as the initial step and we are looking forward for more to come,' added Radovan Nesrsta, a partner in Enern.