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BBC Villas

Prague, Czech Republic
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About the project

 

BBC Villas is a business complex of two office buildings located in Prague, Czech Republic, designed by Aulík Fišer Architects. Located at Želetavská 9 street, opposite the Baaruv park, the complex is easily accessible by public transport (bus, metro and a dedicated shuttle bus).

Delivered in 2002, the two buildings are connected by a common ground floor, and are complimented by a third structure, Residence BB Centrum. The office buildings provide a total of 8,000 sqm of leasable office area spanning six levels above ground and 218 underground parking spaces. The well-proportioned blueprint of the twin buildings allows for flexible configurations of specific floors depending on the tenants’ needs.

The asset was acquired in January 2018 by Passerinvest Group, an all-Czech development and investment company. The transaction marks the first sale in Revetas Capital Fund II and is also a validation of Revetas’ hands-on value creation approach, which allowed the Firm to achieve its business plan with the asset in just over a year’s holding period.

Revetas Fund II initially acquired the BBC Villas in December 2016 as part of Project Papa, a portfolio acquisition comprising four office assets in Prague, Czech Republic. The Firm acquired 100% shareholding with the right to restructure the SPV as part of an agreed restructuring agreement with the lending bank. Revetas has successfully carried out its mandate during the ownership, executing building improvements, extending leases and improving tenant relations, ultimately maximising NOI by leasing the vacant space.

Location

Želetavská 9, Prague 4-Michle, Czech Republic