Sale of the NORDICA OFFICE Administrative Building
We have successfully completed the sale of the NORDICA OFFICE administrative building. This strategic move aligns with our intention to further strengthen our core segment, the portfolio of regional retail parks and grocery stores.
The seller is the real estate fund for qualified investors ZDR Investments SICAV a.s. The buyer is the RT TORAX group, a significant player in the office space sector in the North Moravian capital and owner of another administrative complex, Nová Karolina.
With a leasable area of nearly 12,000 m² and 139 parking spaces, NORDICA OFFICE is among the most significant administrative complexes in Ostrava. NORDICA OFFICE, a finalist in the Building of the Year 2009 competition, was the first administrative center in the Czech Republic to receive the GREEN BUILDING certification from the European Commission for energy savings 30% higher than Czech standards.
"ZDR Investments Group has decided to exit the office space segment and fully devote itself to its main business, which is regional retail parks and grocery stores. We are very pleased to sell the NORDICA building to the RT Torax group, which with its know-how and experience in the Ostrava real estate market will contribute to the further development of this property. This property helped us gain relevant size at the beginning of building our first real estate fund and has significantly appreciated the invested funds throughout our ownership. The realization of a transaction of this size at this time also confirms the conservative and accurate valuation of our real estate funds' portfolio," comments Roman Latuske, a partner at ZDR Investments Group.
The funds obtained are planned to be invested by the group in further expansion of its European portfolio of grocery stores and regional retail parks.