Lincoln Property Company and investment group ENERN have acquired Palác Karlín office building from KIRKBI Invest A/S.
Palác Karlín is located in the heart of Karlín district, right in front of the entrance to Križíkova metro station. The office building offers 15,900 sqm of high-quality office space and retail on the ground floor. The building is fully leased to a mix of national and international tenants including Ricardo Prague, INCO engineering, LHMS, ALBI, Czech Promotion, Universal McCann, Bonami.cz and others.
Štefan Puci, Investment Director at Lincoln Property Company said: “Palác Karlín is a unique building benefiting from its exceptional location and constructivism design. The acquisition represents the first real estate investment with our JV partner ENERN and fits very well into our joint strategy of investing into assets with a future upside which are located in key strategic submarkets.”
“We have been actively reviewing investment opportunities in the real estate for some time now. This sector is part of our long-term vision: we are building complementary portfolios of asset classes that are attractive for our investors. We view Palác Karlín as the initial step and we are looking forward for more to come,” said Radovan Nesrsta, a partner in ENERN.