NewsASB Group advised REICO on the acquisition of Metronom Business Center in Prague from HB Reavis

ASB Group has successfully advised ČS nemovitostní fond which is managed by REICO investiční společnost České spořitelny, a.s. on the acquisition of Metronom Business Center in Nové Butovice, Prague 5. With value of the new acquisition CZK 2.3 billion, an acquisition is the biggest real estate deal on the Czech office market in 2018. The advisory services provided by ASB Group included comprehensive financial and tax due diligence.

The Metronom Business Center is a modern, ten-story office building built in 2015 by HB Reavis. With nearly 34,000 sqm and 528 parking spaces, it is one of the largest buildings in the New Butovice office district. It is located directly on the metro station in the immediate vicinity of the bus station and local shopping mall.

Besides the main tenant German software giant SAP, the property is leased to names such as BMW, Abbvie, DAZ Group, Rossmann and others. The Metronom Business Center is the holder of BREEAM Excellent Environmental Certification and includes, for example, a recharge station for electromobiles. Its total rental rate is over 98%.

The buyer was advised by ASB Group, CMS Cameron McKenna, CBRE, and Sentient. The seller was the HB Reavis Group, one of the leading developers in Europe.

ASB Group dedicated transaction team built a strong track record in assisting its clients in various divestitures and
acquisitions. ASB advised in the transactions worth EUR 700 million.