Allen and Overy has advised HB Reavis on the sale of the Twin City A building in Bratislava to the Prvy Realitny fond managed by IAD Investments. The price of the deal was not disclosed. HB Reavis said that the yield was approximately 6.5%. Havel Holasek & Partners advised the buyers on the deal.
The building, located on Karadzicova street, was completed in 2015 and offers 16,500 square meters of office space, fully leased to tenants including PWC, Merck Sharp & Dohme, Bayer, BNP Paribas Slovensko, and Sfera. This is the second asset HB Reavis has sold to IAD Investments, following the acquisition of River Garden I in Prague two years ago.
In 2016, HB Reavis sold 14 completed properties worth over EUR 1 billion, including its London project, 33 Central, logistic centers in Slovakia and in the Czech Republic, the Konstruktorska Business Center, the Gdanski Business Center in Poland, and Aupark in Piestany.
The A&O team was led by Senior Associate Vojtech Palinkas, supported by Senior Associate Juraj Gyarfas and lawyer Drahomir Siroky.
Editor's Note: After this article was published Havel Holasek & Partners confirmed that a team made up of Partner Martin Jurecko and Associate Dusan Predny advised IAD Investments on the acquisition, with Associate Michal Ranostaj and Petra Batovsk advising on the refinancing.
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