Deka buys The Park in Prague
Investment & financeschedule 06 October 2016
The Park was sold to Starwood in 2013 for EUR 180 mln - a record for the Czech office market
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CZECH REPUBLIC Deka Immobilien has signed an agreement to purchase The Park office complex in Prague 4 (Pankrác) from an affiliate of Starwood Capital Group.
Under the terms of the deal – which have not been disclosed – the office park is to be transferred into the new Deka-Immobilien Fokus Prag (DIFP) institutional fund to be launched when the transaction is closed, which is expected to take place at the end of October. According to Torsten Knapmeyer, the managing director of Deka Immobilien: “The fund is the first product in our new ‘Club Deal Series’, which we plan to expand steadily over the next few years in respon
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