PPF Real Estate buys Telehouse office building in Prague

PPF Real Estate, part of Renáta Kellnerová's PPF group, has agreed to buy the Telehouse office building in Prague's Dejvice district. The parties have chosen not to disclose the financial terms of the deal.

The sellers were a group of investors that included BPD Development and Engine Praha Development, a company owned by the well-known Czech lawyer and entrepreneur Radek Pokorný. The building stands close to PPF Group's headquarters and Václav Havel Airport, in the office district of Prague 6.

Telehouse offers more than 21,000 square metres of leasable space, occupied by companies from the technology, telecommunications, healthcare and pharmaceutical sectors. The acquisition adds to the portfolio of PPF Real Estate, which specialises in commercial real estate investment.

The deal underscores PPF's continuing interest in strengthening its position in Prague's office property market, and marks a successful exit from the joint development project for Radek Pokorný and his partners at BPD Development.