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Redevco acquires the Palais of the city of Prague

Juan Peñaloza 06/04/2014

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Redevco acquired City Palais for one of its investors in a striking
neo-Renaissance building in the lively Golden Cross district in the
heart of Prague, by a group of private investors. The purchase
price of the retail property is more than 40 million euros.

The City Palais is located in a prime location in the main
pedestrian area of ​​the Czech capital. Designed by the well-known
Czech architect Matěj Blecha and the famous sculptor Celda
Klouček, the monument covers an area of ​​almost 7,500 square
meters spread over six supernatural and two underground floors.
Redevco was advised by MAX Immo and Dentons.

Redevco is a pan-European retail real estate specialist, in
addition to its properties on the street, they invest and develop
parks and shopping centers. The company has around 400
properties and extends through the strongest retail concentrations
in the United Kingdom, France, Belgium, the Netherlands,
Germany, Spain, Portugal, Switzerland and Austria. They
currently offer real estate solutions for more than 1,000 retailers.