PPF Real Estate Acquires Telehouse Office Building in Prague

PPF Real Estate has agreed to acquire the Telehouse office building in Prague's Dejvice district from a group of investors comprising BPD Development and Radek Pokorný's Engine Prague Development.

The building is located in Prague 6, close to the headquarters of PPF Group. The financial terms of the transaction have not been disclosed.

Telehouse Offers More Than 21,000 Sqm

Telehouse provides more than 21,000 square metres of leasable space.

The office building has maintained high occupancy and has a stable mix of tenants from the technology, telecommunications, healthcare and pharmaceuticals sectors.

The acquisition adds a commercial property with long-term income potential to PPF Real Estate's existing portfolio of European assets.

Robert Ševela, Chairman of the Board of Directors of PPF Real Estate, said Telehouse is a high-quality office asset in a strong location with long-term tenant demand.

He also highlighted its proximity to PPF Group's headquarters and PPF Real Estate's offices.

Office Building Completed in 2019

Telehouse was completed in 2019. The building benefits from transport connections, nearby local amenities and proximity to Václav Havel Airport.

The location in Prague 6 provides access to the wider city while placing the property close to an established office area.

The building's tenant base includes companies operating across several sectors, including technology, telecommunications, healthcare and pharmaceuticals.

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Investment Adds to PPF Real Estate Portfolio

The acquisition is in line with PPF Real Estate's strategy of investing in prime properties.

Telehouse will become part of the company's existing portfolio of European commercial real estate assets.

According to the sellers' representatives, Telehouse has ranked among Prague's highest-quality office buildings and has remained attractive to tenants over the long term.

The sellers also said they expect PPF Real Estate to be able to realise the building's potential, citing the investor's strategic approach and knowledge of the local market.

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Transaction Between Established Real Estate Investors

The transaction brings together PPF Real Estate and the group of investors comprising BPD Development and Engine Prague Development.

The sellers are completing their investment in the Telehouse office building through the agreed acquisition by PPF Real Estate.

With more than 21,000 square metres of leasable space and a stable tenant mix, Telehouse adds an established office asset to PPF Real Estate's European portfolio.

The transaction's financial terms remain undisclosed.

The acquisition is focused on an existing office property in Prague's Dejvice district, with the building's location, occupancy and tenant profile forming key features of the asset.

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