“We have been looking after The Square building for many years and know it inside and out. We are therefore very pleased that we have now purchased the property and can continue to care for and improve it. We want to invest as soon as possible in improving the building’s energy efficiency, which we see as an area in which we have been successful in many of the properties we manage. It goes without saying that we will maintain full occupancy of the building with long-term, reliable tenants,” comments Sebastien Dejanovski, founding partner of the Mint Group, on the transaction.
The Square office building has been standing at the intersection of Budějovická and Olbrachtova streets in Prague since 2002 and offers modern spaces with a total area of 19,000 m2 on 14 floors. The building currently meets the internationally recognized BREEAM Very Good energy certification. There is a Prague metro station on line C directly below the building, and there is also an exit from the D1 motorway not far from the building. Long-term tenants include the State Environmental Fund, Provident Financial and Opel. Since 2015, the building has been owned by the 1st Real Estate Fund Amundi, in which the building remained as the last project after the sale of City Point in 2023 and Pařížská 3 in 2024.
"2024 was the most successful year in history for KB Real Estate Fund. The value of the fund's share price increased by 17% year-on-year. In the autumn, the sale of the building on Pařížská Street was successfully completed, and now we have managed to sign the sale of the last property in the portfolio. The fund has thus completed more than 10 years of its activity, during which the value of the fund increased by 67%," says Jozef Murza from the real estate department of Amundi Czech Republic.
