HB Reavis buys River Gardens in Prague – Karlin

Real Estate Karlin Group (REKG) is reported to have sold its project River Gardens, in Prague’s Karlin district, to the Slovak developer HB Reavis. RB claims it will begin construction on the 19,000 sqm office building (its first project in Prague) in August, which would seem to indicate an appetite for spec. That wouldn’t be unlike HB Reavis, but it’s not exactly standard operating procedure these days.

Milorad Misko, a partner at REKG told the Czech daily Hospodarske noviny (link in CZ) that the prices his company is achieving for its projects are comparable to those before the crisis in 2008.

How strange. We thought prices had gotten overinflated during that whole bubble-thing…


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