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Skanska Property sells office building Vyšehrad Victoria in Prague to Hypo Real Invest AG

Jones Lang LaSalle Capital Markets advise Skanska

Prague, 3 March 2010 - Skanska Property Czech Republic is divesting its office project, Vyšehrad Victoria, in Prague to the HRI Immobilienfonds Nr.1 of the Austrian Hypo Real Invest AG for EUR 13.5 million. This is Hypo Real Invest AG’s first cross border acquisition in the Czech Republic. Jones Lang LaSalle advised Skanska.
The building, located in Prague 4, was completed in 2008. Vyšehrad Victoria comprises approximately 5,000 sq m office space and is leased to prominent international companies such as OMV, Czech Credit Bureau and W.A.G.
“We are pleased that Hypo Real Invest AG chose a Skanska project for its first investment on the Czech market. The high quality and strong image of the building in combination with Skanska’s brand and financial stability has made the realization of this project a success in challenging market conditions.” said Britta Cesar, Managing Director of Skanska Property Czech Republic. She added: “Our focus ahead is on new green office developments in Prague and Ostrava.”
HYPO Real Invest AG commented: “Vyšehrad Victoria as a solid building is the right premises for our market entry. We are happy that we had the possibility to buy from an established partner like Skanska. As the Prague is one of the most reliable markets in Central Europe, further investments of HYPO Real Invest will follow.”
Vyšehrad Victoria, designed by Aulík Fišer Architekti architectural practice, is located in Prague 4 near the Prague Congress Centre. The eight-storey building offers high-quality and flexible A-class office space. It is easily accessible and offers its clients attractive and comfortable offices in an exclusive location.