Jersey-based Penta Investments closed its 2016 business year with the sale of Florentinum, its first development in the Czech Republic, to Chinese investment group CEFC for an undisclosed sum.
Florentinum, designed in collaboration with the late architect Zaha Hadid, opened in 2014 and is home to 70 long-term tenants, including EY, HSBC Bank, Bank of China and RSJ Investment Group.
The development is located in the centre of Prague and combines premium office space with a retail area, courtyard and central park, and 567,000 square feet of leasable area.
It is the first phase of Penta´s regeneration plan to transform a brownfield area beside Masaryk train station into a new business district.
Penta, an investment group founded in 1994, develops companies and projects in European countries including the Czech Republic, Germany, Hungary, Poland, Romania, Serbia, and Slovakia, focusing on healthcare, financial services, retail, manufacturing and real estate.