Arena

Arena (A7 Office Center) is a mixed-use building with a total GLA of ca. 16,000 square meters, located in the emerging Holešovice neighbourhood. It represents a landmark redevelopment of Prague’s oldest brewery, designed according to an architectural concept by the renowned French architect, Jean Nouvel. The complex offers 197 executive garage parking spaces for all tenants and 48 outdoor parking spaces for visitors.

The location provides excellent access to both public and private transport. It is within a 5-minute tram ride from the Nadrazi Holesovice and Vltavska stations of the underground C line, Nadrazi Holesovice, and Vltavska station of the underground B line. Additionally, it is located next to the U Pruhonu and Delnicka tram stops, which are served by lines 1, 12, 14, and 25. The location also offers convenient connections to major Prague areas such as Hradcany, the city center, Liben, and Vysocany.

Revetas Fund II initially acquired the A7 Office Center together with a co-investor in late 2015 as part of Project Cup, a portfolio acquisition comprising four assets located in Poland, the Czech Republic and Slovenia. In January 2019, Revetas successfully completed the disposal of Arena to Conseq Group, a prominent independent investment management firm based in the Czech Republic. This transaction is the second disposal in Fund II.

During the three years of the ownership, Revetas exceeded its financial targets and fully achieved its objective by transforming the A7 Office Center into a fully leased, stable, and cash-generating asset. Specific value creation initiatives include investing in tenant improvements and marketing to fill the vacancies, extending existing international anchor leases, consolidating the property’s market position, and improving rental income. Additionally, non-recoverable costs have been reduced by implementing cost-saving measures and improving the quality of leases through a dynamic asset management strategy.

The successful sale to one of the leading investment managers in the Czech Republic demonstrates not only the growing demand from local market participants for high-quality assets, but also the strong and sustainable liquidity that exists in the region.