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News Release

Prague

Jones Lang LaSalle´s Capital Markets Team closed three transactions in September and pushed national investment volumes over the 1-billion-euro threshold


​Praha, 14 October 2013 — The Capital Markets team of Jones Lang LaSalle has closed three important transactions for its clients in September. This has pushed commercial investment volumes in 2013 over the threshold of one billion euros (comparative to €0.417 bn at the same stage last year).

Pařížská 26
Located on the most prestigious street in the Czech Republic, Pařížská 26 is an elegant historical building from the turn of the 20th century that carefully combines its historic nature with latest technologies and high quality specifications. The property is fully leased to tenants such as Banque Privée Edmond de Rothschild Europe, Energetický a průmyslový holding and high profile retailers, Loro Piana and Rimowa. Full renovation of Pařížská 26 was completed in 2010. The seller was FIM Group, with the asset being acquired by Česká Pojišťovna. Jones Lang LaSalle represented the seller.
 
Tulipán Park Ostrava
A modern, fully leased industrial premises in the unique location of Ostrava Přívoz, the park offers almost 20,000 sqm of warehouse, production and office space. The park is fully leased to tenants such as Erwin Quarder, Adler, Wawin Červa and others. The seller of the park was the international developer, Segro, with the acquisition by the Slovak investment fund, IAD, in cooperation with an important local partner. Jones Lang LaSalle represented the seller in the transaction.
 
Prague Gate
A modern, fully leased office building in Prague 4 – Chodov, the property offers more than 11,000 sqm of office space, a retail unit, a KFC leased restaurant as well as tenants including Partners, Husquarna, EMCO and Mazda. The building was completed in 2002. The seller was Mayfield, the buyer being a private foreign investor. No price was disclosed. Jones Lang LaSalle represented the seller.
 
Stuart Jordan, Head of Capital Markets at Jones Lang LaSalle commented: "Recent investment activity underlines the attractiveness of the Czech Republic and the general comfort investors have in the Czech economy. In the first nine months of this year commercial properties totalling more than 1 billion euros were traded, which many people had predicted would comprise the full year volume. Currently, we estimate that the volume will reach at least 1.2 billion euros. The above mentioned transactions highlight the trend of recent months - new investment entities entering the Czech real estate market combined with a strengthening of the domestic buyer pool."