Patria Investment Company has acquired the Forum Karlín complex and the Ibis hotel in Prague, enhancing its portfolio of income-generating properties in a thriving real estate market.

Target Information

Patria Investment Company, a part of the ČSOB Group, has recently expanded its portfolio by acquiring the Forum Karlín complex and the Ibis hotel located on Na Poříčí Street in Prague. Forum Karlín is notable for its unique combination of office spaces and a concert venue, making it a significant landmark in Prague's commercial landscape. This property has been under the management of Amundi Czech Republic's KB2 fund since 2018, purchased for €52 million. It has maintained its reputation for modern architecture and cultural significance while contributing to the vibrancy of the locality. The Ibis hotel, known for its stable operations and high occupancy rates, also complements Patria's portfolio by providing cash-generating assets in a prime city area.

Both properties were previously owned by the KB2 fund, managed by Amundi Czech Republic, which is completing its investment cycle through this transaction. With the addition of these properties to its holdings, Patria is enhancing its presence in the competitive Prague real estate market.

Industry Overview in the Czech Republic

The Czech real estate market, particularly in Prague, has demonstrated resilience and growth, characterized by increasing interest from both local and international investors. The office segment, for instance, has shown robust performance in recent quarters, with overall demand reaching 176,000 square meters—a 33% increase