Spectator on facebook

Spectator on facebook

Slovak office real-estate market reports the biggest deal for seven years

Aupark Tower changes hands. The price was not disclosed.

Aupark Tower(Source: Courtesy of CBRE)

US real estate investment fund Heitman sold the Aupark Tower office building in Bratislava to the real estate fund of the investment bank Wood & Company in early June. The consultancy company CBRE, which mediated the deal, describes the transaction as the biggest on the Slovak office real-estate market for seven years. The price, however, was not disclosed.

“Via the acquisition of the office assets Aupark Tower and Lakeside Park in Bratislava and the Hadovka Office Park in Prague, we are strengthening our position in the administration of real estate funds for qualified investors, by which we are trying to satisfy the growing appetite of investors for such assets,” said Martin Šmigura of Wood & Company, as cited in a press release from CBRE.

Read also:Bratislava’s sky-high ambitions to be capped

Developer HB Reavis completed Aupark Tower, next to the Aupark shopping centre on the Petržalka side of the Danube River, in 2008. It has 22 upper-ground floors, one underground floor and 750 parking places. The total rentable area amounts to 35,000 square metres. It holds the BREEAM EXCELLENT certificate. Now it houses such prominent concerns as the IT companies Eset and AT&T and the mobile operator O2.

“This excellent transaction confirms the position of Bratislava as a prominent investment market in central and eastern Europe,” said Anthony Selman, head of investment properties for central & eastern Europe at CBRE, as cited in the press release. “This investment is part of a wave of foreign capital, whose aim is to utilise the difference in investment revenues the Slovak quality office real-estate market offers compared with abroad.”

Heitman European Property Partners IV bought Aupark Tower in 2012 when the price might have been as high as €85.6 million, the Trend weekly reported at that time.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Topic: Real Estate


This article is also related to other trending topics: Bratislava

Top stories

Spectacular Slovakia #3: Unexpected hiking (Enjoy Bratislava's greenery) Audio

In Slovakia, you can hike in the capital city. Listen to the latest episode of our travel podcast to find out more.

The Financial Administration’s head resigns from post

František Imrecze says his decision was spontaneous.

František Imrecze

People will gather to support imprisoned Ukrainian filmmaker

The open letter in support of Sentsov has been signed by more than 2,800 people.

People hold posters to support Ukrainian filmmaker Oleg Sentsov, who is currently on hunger strike in a Russian jail to demand the release of the other Ukrainian hostages taken by the Kremlin, in front of the Embassy of the Russian Federation in Kiev on August 21, 2018.

Institutions can be quickly destroyed, but they are hard to build

Head of the To Dá Rozum intiative, Renáta Hall, talks about the impacts of a dispute between the academy of sciences and the Education Ministry.

Renáta Hall