Invesco buys from UBM in Prague

Invesco Real Estate has purchased a 4,200 sqm building in Andel City from UBM Realitätenentwicklung. The building, located in the popular Smichov district of Prague 5, was reportedly acquired for the German fund NAEV. UBM managing director Margund Schuh says the transactions is further evidence of the level of interest investors have for quality assets in Smichov. The building is fully-rented, with tenants including Maersk, UBS and Boston Scientific.

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