ASB Group advised Trigea on the acquisition of a retail park in Pilsen

March 9, 2020 Czech Republic

ASB Czech Republic advised the Trigea Real Estate Fund on a successful acquisition of the Plzeň (Pilsen) retail park. ASB services included financial and tax advisory.

Tomáš Novák, Partner ASB Group, says: „We are glad that we could assisted to Trigea Real Estate Fund on its acquisition as well as on the acquisition of the office park Louvre in Prague last year.”

“That is another significant real estate transaction in which we have taken part in not only in the Czech Republic but in Poland and Slovakia as well. It is supported by the total volume of transactions exceeding EUR 750 million on which we have assisted with its transaction services recently.”

The retail centre is located on one of the busiest streets of the city Plzeň (Pilsen) - Rokycanská street. Each year, over 3 million customers visit the venue. Tesco was on the seller-side of the transaction and keeps its hypermarket in place as a long-term tenancy.

The retail park opened in 2001 and has over 60 tenants nowadays, incl. H&M, New Yorker, C&A, Reserved, CCC, Deichmann, SportsDirect, Electro Worlds, KFC, McDonald’s and Tesco. The centre consisting of a total area of 35 thousand square meters and a large car park with 1100 parking spots.

The Trigea Real Estate Fund was established in 2019 by Partners Financial Services (Group). It is focused mainly on investing in office buildings and retail centres which combine stable income from tenancy and potential growth of the real estate market.

The ASB Group team on this transaction was led by Tomáš Novák, Partner, and Jana Pytelková Svobodová, Head of Tax Team CZ.