Zirkon

The Zirkon office complex is a six-level office building  which boasts over 11,005 sqm of GLA of rentable space. The building is located on Sokolovská street, within consolidated office sub-market of Karlin-Prague 8^th district, near Křižíkova metro station, opposite the tram station, and is an established cash-generative asset that benefits from excellent accessibility, retail services provision, a good parking ratio and multiple floor plate configurations appealing to a wide range of tenant profiles and sizes​.

Bursting with greenery, the interior courtyard of the building provides staff members with a pleasant place to relax. The Zirkon office complex was designed by Czech architect Aulický, best known for designing the controversial Žižkov Television Tower, the tallest building in Prague. The structure was built in 1997 and completely refurbished in 2010.

The Zirkon Office Center boasts exceptional connectivity to public transport by all possible means. Located at 84-86 Sokolovska street, it enjoys easy access to the metro and is in close proximity to the Křižíkova and Karlínské náměstí tram stops, ensuring convenient access to the city center as well as the Florenc bus and coach station. Thanks to an extensive network of cycle paths linking Karlín with the rest of Prague, you can easily commute using a variety of environmentally friendly means of transport. This location offers a wealth of amenities, including restaurants, cafes, and cultural centers, all in close proximity to the building. Additionally, the park adjacent to the Church of Cyril and Methodius is the perfect place to take a break and reconnect with the nature.

The acquisition of the Zirkon office building was completed in April 2017 by Revetas Capital Fund II LP as part of the Project Papa office portfolio in Prague, which comprises four office assets, including BBC Villas, Corso Karlin and Apeiron, with a total GLA of 40,302 sqm. The investment was acquired from a global real estate investment company. As part of the transaction, Revetas successfully refinanced and acquired the existing debt facility from a subsidiary of a global private equity firm and a German institutional bank. Revetas has secured financing from a large Austrian bank.

During the holding period, Revetas has implemented a comprehensive building renovation program (aimed at improving the lobby circulation and retail space, M&E and common areas of the building, installing new HVAC and BMS systems), as well as implementing active leasing initiatives​ which have resulted in all vacant units being filled.

In October 2021, Revetas successfully completed the disposal of the remaining assets of Revetas Capital Fund II’s Project Papa office portfolio, bringing the total transaction value of the portfolio to over EUR 100 million. BBC Vila was previously sold to Passerinvest Group. The three remaining assets,  the Corso Karlin, Apeiron and Zirkon office buildings, with a total GLA of ca. 33,000 sqm, located in close proximity to each other in the Karlin neighbourhood, were acquired by the local real estate group Českomoravská Nemovitostní (“ČMN”).