Bratislava, Slovak Republic
Go To Project Website

About the project

The Bratcarl project is a 30,000 sqm mixed-use real estate in Bratislava, Slovakia, comprising: lodging & hospitality (4-star hotel, 170 rooms), office and retail 12,000 sqm GLA and a car park in the city center with 450 underground parking spaces. Thanks to its location – in the heart of the city’s Old Town – it is in direct contact with the beautiful bank of the Danube River as well as the historic centre of Bratislava, with its numerous restaurants, coffeehouses, shops and cultural monuments.

The asset was acquired in 2004 and sold in 2006. Bifrost was responsible for origination, financing, value creation and active management during the holding period. The firm secured the acquisition through direct relationships with BNP Paribas and the Franco-Belgian conglomerate Suez Tractebel Group and arranged structured finance partly with vendor loan, traditional debt (Aareal Bank) and equity. The equity structure consisted of an 80/20 equity investment between Patron Capital L.P. and a private investor group in an operating partnership.

Throughout the ownership, a number of value creation strategies were effectively executed: direct sourcing of the acquisition through personal relationships and securing equity through three entities. Value was created through a structured acquisition utilizing a €6m loan from the vendor, restructuring the hotel management fees to better serve the ownership, and unlocking additional value through redesigning the property’s interior, providing an additional 1,000 sqm of space. Additionally, a long-term lease with a casino operator was secured for the basement space, ultimately increasing NOI.


  • 30,000 sqm GLA
  • Hviezdoslavovo námestie 3, 811 02 Bratislava, Slovakia
  • Mixed-use: lodging & hotel, office, retail, city-centre parking
  • Completed
  • Go To Project Website


Hviezdoslavovo námestie 3, 811 02 Bratislava, Slovakia