Invesco Sells Mixed-Use Property in Prague
Invesco Real Estate has sold a mixed-use property in Prague to CPI Group for €29.3 million. The Longin Business Centre was held by Invesco’s first dedicated property fund for the central European market, the ZEI fund, which was launched in 1998 with an expected 12-year lifespan. The core-plus fund, which targeted German institutional investors, now has two remaining properties.
Longin Business Centre comprises 10,550 square metres of office space and a 55-room hotel; the asset is 96 percent occupied.