SPM and SCF have acquired the prestigious Palác Křižík office complex in Prague, marking a significant transaction in the Czech real estate market.

Target Information

The Palác Křižík, an esteemed office complex located in Prague's popular Anděl district, has been acquired by investment groups SPM, founded by notable Czech entrepreneurs Slavomír Pavlíček and Marek Španěl, alongside SCF led by Josef Malíř. The complex houses significant tenants such as Seznam.cz and L'Oréal, making it a key player in the real estate market. Previously owned by Generali Group, this transaction represents one of the most significant real estate deals in the Czech Republic's office building segment and marks SPM's largest acquisition to date.

Palác Křižík is notable for its blend of history and modernity, consisting of six interconnected historic buildings from the early 20th century, which were modernized into office spaces in 2006, and a newly constructed section completed in 2012, housing the headquarters of Seznam.cz. The complex spans over 25,000 square meters of leaseable space, featuring seven above-ground and four underground floors, along with approximately 250 parking spots. The majority of the leaseable area is occupied by offices, complemented by shops and services on the ground floor. Its strategic location at the intersection of Radlická and Plzeňská streets ensures high visibility and accessibility, with over 100,000 individuals passing by daily.

Industry Overview in the Czech Republic

The Czech Republic's office real estate sector is characterized by a robust demand driven by economic stability and a strong influx of both domestic and international corporations. As a prime location in Central Europe, Prague has seen a continual rise in office space leasing activities,