ČS nemovitostní fond Buys Forum Business Center I in Bratislava
The value of the acquisition is CZK 1.25 bn (EUR 46.2 mil EUR)
The building is fully leased, with the main tenant being Slovak
ČS nemovitostní fond has 9 buildings in its portfolio, its aggregate
market value exceeds CZK 6.3 billion
In the last 5 years, the fund’s revenue has been 3.0% p.a. (as at 4
ČS nemovitostní fond, managed by the REICO České spořitelny
investment company, has made a major acquisition: in early December, it
purchased the Forum Business Center (Forum BC I) administrative building in
Bratislava. The value of the new acquisition is approximately CZK 1.25 bn
(EUR 46.2 mil.). In terms of volume, this investment is one of the year’s
most significant transactions on both the Czech and Slovak markets. The
fund purchased the building from the Slovak development company HB Reavis Group
The Chairman of the Board of Directors of REICO České spořitelny, Filip
Kubricht, sees the acquisition of the Forum BC I building as a major step
forward at the end of the year. “It is an interesting, multi-functional,
predominantly office building whose importance is underscored, above all, by
the fact that 100% of its leasable area has been leased out. And the fact
that the major tenant is Slovakia’s largest telecommunication company, Slovak
Telekom,” said Filip Kubricht.
“We are tremendously pleased with our successfully developing cooperation
with major foreign investors. The execution of the transaction confirms
that the innovative and modern solutions that HB Reavis offers constitute
high-quality commercial assets on the real-estate market,” said Marián Herman,
CFO of the HB Reavis Group.
With its recent acquisition, the number of properties in the
portfolio of the ČS nemovitostní fond has grown to nine. Its aggregate
market value following the acquisition of Forum BC I exceeds some CZK 6.3
bn. The fund’s yield in the last 5 years was 2.9% p.a. (as at 12 November
2015). “This has been a successful year and we are pleased by the
milestone that, for the first time, clients invested more than CZK 4 bn into
our fund in a single year. That means that the value of the fund’s
capital in mid-December amounted to nearly CZK 8 bn, with more than 34,000
unitholders having invested into the fund as at the end of November,” said
Filip Kubricht in describing the year.
ČS nemovitostní fond was established in 2007 and is the largest
and longest-operating real estate mutual fund on the Czech market. It has
been designed primarily for conservative investors, and it aims for a long-term
yield above the level of government bonds. The amount of its most recent
transaction corresponds to the fund’s investment strategy, i.e., to invest
primarily into premium office properties with a market value in excess of CZK
750 mil. In addition to five properties in Prague, the fund owns two
properties in Bratislava, and one each in Brno and Ceske Budějovice.
Forum BC I is a 21-storey multifunctional building with a
prevalence of office space (18 storeys are above ground, 3 underground).
The aggregate leasable area in the building is roughly 18,500 square meters,
and 100% of the leasable area is occupied. The building’s main tenant is
Slovak Telekom, the largest telecommunications company in Slovakia. ČS
nemovitostní fond purchased the FBC building from the Slovak development
company HB Reavis Group B. V., a major player on the Slovak real estate market,
which also operates on key markets in Central Europe (Czech Republic, Poland,
and Hungary), the United Kingdom, and Turkey.
The building was built in 2013, and in August 2014, it attained
the second-highest level of BREEAM environmental certification (BREEAM
Excellent), which makes it one of the most environmentally friendly and
cost-efficient commercial properties on the Slovak market.
For further information please contact the Press Centre of the Ceska
Sporitelna Financial Group (CSFG):