Valesco Group expands into Slovakia market with €120m Twin City Tower purchase

The Valesco Group and Seoul-based AIP Asset Management (AIP) have made the first real estate investment backed by South Korean capital in Slovakia with the purchase of the Twin City Tower, located in the city district of Bratislava.

The venture purchased the 34,752-square-meter (374,067-square-foot), 23-story building for €120m ($136 million) from HB Reavis. The building is 100 percent leased, with Amazon as the principal tenant and includes Swiss Re, SAP, Bayer, Compass Group and PWC in the immediate vicinity.

Completed in 2018 by the seller, the building features underground floors, a rooftop garden, 1,360 square meters (14,639 square feet) of retail space, and 456 parking spaces.

The investment follows a £350m ($445 million) capital deployment in the United Kingdom by Valesco and AIP in 2018, with the acquisitions of Cannon Bridge House and Microsoft HQ.

London-based Valesco Group follows an opportunistic and private equity real estate investment st