ICP Capital Partners acquired the Technopark administrative center in Prague from an Italian investor for approximately 309 million CZK, aiming to enhance its value through active management and renovations.

Information on the Target

The target of this acquisition is the Technopark administrative center located in Jinonice, Prague, which was sold by an Italian investor to the Czech company ICP Capital Partners. The facility boasts close to 9,000 square meters of office space, with approximately 80% of it currently occupied by tenants including notable companies like Commerzbank, Ruukki, and s.Oliver. This acquisition is a strategic addition to ICP Capital’s real estate portfolio, aligning with their plans to enhance the property’s performance through active management.

Initially built in 2003 by the German developer Hochtief Development, Technopark has been identified by ICP Capital as a property that meets their key investment criteria: high quality and potential for increased performance. The new ownership intends to carry out partial renovations, including upgrades to the reception and restroom facilities, to enhance the building's appeal to current and prospective tenants.

Industry Overview in the Target’s Specific Country

The real estate market in the Czech Republic, particularly in Prague, has shown significant growth and attractiveness to investors, even amidst shifting economic conditions. Recent trends indicate that properties outside the central business district