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SLOVAKIA CA Immo exits Slovakia with BBC sale

Investment & finance
CA Immo has sold Bratislava Business Center 1 and 1 Plus to Prague-based investment bank Wood & Company for an undisclosed sum.

With the disposal of the BBC 1 and 1 Plus office complex, CA Immo has now exited the Slovakian market. The transaction is in line with CA Immo’s strategic capital rotation programme of divesting specific assets outside key investment markets. The proceeds of the sale are to be reinvested into value-add investments, including the continued build-out of the Austrian company’s prime development pipeline as well as external acquisitions. Over thelpast three years, CA Immo has completed exits from Slovenia, Bulgaria, Russia, Ukraine and Croatia, as well as all the secondary cities in Hungary, Romania and Poland.

JLL and law firm Cerha Hempel Rechtsanwälte advised CA Immo for this latest transaction, while Wood & Company received legal advice from the Bartošík Šváby law firm.

This acquisition strengthens our position in the office property market and our presence in the Bratislava central business district where we also own the BBC 5 office complex. The BBC 1 and BBC 1 Plus are LEED ‘Gold’ certified buildings and offer fully flexible office space suitable for tenants of all sizes. In addition, the buildings have development potential that will add to their attractiveness in the future.
Martin Šmigura, Wood & Company’s investment director

Wood & Company manages its real estate assets through its two real estate sub-funds (the Office and the Retail sub-fund), which are open to qualified investors. The BBC 1 and BBC 1 Plus buildings have been added to the Office sub-fund.

The BBC complex has a leasable area of around 25,500 sqm. BBC 1 Plus was constructed as an extension to Bratislava Business Center 1 in 2012, which has 15,900 sqm on 13 upper storeys and one underground parking level. The centre, which is situated on the city’s main traffic artery, Prievozská, has received a LEED ‘Gold’ certification.

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