We’ll try to get a bit more detail on this deal, but CPI has bought a 50% share in Copa Centrum Narodni from Interco Holding. Copa retains its 50% share. Cushman & Wakefield represented the seller, but they’re unable to release any of the financial terms. Interco, based in Wiesbaden, appears to have been involved in the project since 2003.
“The opportunity to be part of a major scheme in the heart of Prague has proved extremely attractive to both potential tenants and investors,” said James Chapman, head of capital markets for C&W in Prague.
“We have seen a number of Central Europe’s more experienced investors look at prime development opportunities. This is due to healthy occupational demand and the ability of good projects to secure financing. We expect this trend to continue during the next twelve months.”