HB Reavis sells Forum Business Center I in Bratislava to CS Nemovitostni fond
BRATISLAVA – HB Reavis Group, the international developer group operating in Central and Eastern Europe, the United Kingdom, and in Turkey, has sold the Forum Business Center I office building (‘Forum BC I’) in Bratislava, Slovakia. The landmark office development at the junction of Bajkalská and Prievozská Street – the headquarters of Slovak Telekom – has been purchased by ČS nemovitostní fond for EUR 46,2 million, making it one of the most significant transactions in the Slovak and Czech real estate market this year.
Forum BC I comprises seventeen storeys and three basement levels, providing over 18,500 square metres of premium rental space. As one of the first office buildings in Slovakia, it was awarded the prestigious certificate of environmental sustainability, BREEAM Excellent. Slovak Telekom chose this highly flexible and efficient office tower as its corporate headquarters, and has been based there since 2013.
The buyer of Forum BC I is ČS nemovitostní fond managed by REICO investiční společnost České spořitelny, a 100% subsidiary of Česká spořitelna, a.s., member of Erste Group AG. ČS nemovitostní fond is the largest and oldest mutual real estate fund in the Czech Republic. By the end of November, its fund capital exceeded EUR 275 million (CZK 7.5 billion).
“We have completed a significant investment project beyond the Czech Republic which complies with the diversification strategy of our portfolio. Forum BC I is a premium quality project, and, with such a prestigious tenant as Slovak Telekom, constitutes an attractive real estate opportunity for our investors,” said Filip Kubricht, Chairman of REICO ISČS.
“We are extremely happy that we’ve successfully executed this major transaction with such renowned foreign investors. The demand for this sale proves that premium quality office buildings delivered by HB Reavis constitute valuable commercial assets of the real estate market,” said Marián Herman, CFO of HB Reavis.