ASB Group assisted Trigea Real Estate Fund on the acquisition of the attractive Louvre office building in Prague 5, Czech Republic. It was built in 2008 and it offers approximately 4,600 sqm of modern rentable areas. The Louvre represents an exceptional space, especially thanks to its excellent transport connection to the Radlická metro station and timeless design. The main tenants include companies, such as the Swiss rail vehicle manufacturer Stadler, Lukoil Accounting and Finance Europe and the VZP Health Insurance Company. The transaction price has not been disclosed.
Trigea Real Estate Fund was established on 1 April of this year and is mainly focused on office buildings and retail centres. “I am very pleased that we have acquired the Louvre office building as the first real estate in our portfolio, because it corresponds with our investment strategy in every respect. By the end of the year, we would like to add another piece of real estate to the Louvre,” says Tomáš Trčka, Managing Director of Trigea Real Estate Fund. The Fund is exclusively distributed by Partners financial group and it allows the general public to participate in revenues of commercial real estate. Amounts from 500 Czech crowns may be invested into the Fund. The expected yield should be 4-6 percent p.a. in the long term. Within three years, the Fund plans to collect 5 billion Czech crowns.
The ASB Group team was led by Partner Tomas Novak and included tax and financial specialists. Transaction advisory services included comprehensive financial and tax due diligence.
ASB Group is a professional outsourcing provider of high-standard services in the areas of accounting, tax advisory, payroll, transaction advisory and corporate services. ASB provided support for many major transactions in the CEE region, both on the buy and the sell side, advises in the transactions´ worth EUR 1 bln. Transaction advisory professionals have advised on the real estate transactions, take overs of local companies by their competitors, and cross-border investments in local businesses. Were responsible for the financial and tax due diligence projects for most of transaction advisory clients. However, experience goes beyond the due diligence process, as often support transaction negotiations and advised clients on purchase price calculations.
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Photo: By Seller