CA Immo has closed the disposal of five office buildings at the Riverside Karlín campus in Prague, achieving a profit relative to book value. The transaction marks the real estate firm’s complete exit from the Czech market.

As part of the deal, the buyer has taken over CA Immo’s entire local Czech operational team alongside the property assets. Situated in the Prague 8 submarket of Karlín, the inner-city office campus spans approximately 85,000 sqm of total gross leasable area across five individual properties: Nile House, Amazon Court, Danube House, Mississippi House and Missouri Park.

The exit forms part of CA Immo’s wider capital rotation programme designed to refocus its property footprint on high-quality, modern Class A office assets in key German cities such as Berlin and Munich. The company plans to deploy the proceeds from the sale for general corporate needs, debt repayment, share buybacks, dividend distributions, portfolio investments and potential external acquisition opportunities.

Keegan Viscius, CEO of CA Immo: “Our total exposure to the Czech Republic has already shrunk following the sales of the Visionary and Kavci Hory office buildings, and now, as we near completion of the Danube House refurbishment, is the right time to conclude our market exit with the sale of the Riverside campus in Karlín. I am pleased that the campus will remain intact, and also that our local Czech team will continue to look after the portfolio under the stewardship of the new owner. As a result of this sale, we continue to refine our strategic profile and underlying portfolio of modern A class quality office assets, while increasing economies of scale and critical mass in Germany.”

The transaction aligns with CA Immo’s strategy to divest non-core assets based on location, building age, property type or long-term value potential. Since 2018, the group has withdrawn from several Central and Eastern European markets, including Romania, Serbia, Slovenia, Slovakia, Bulgaria, Russia and Croatia, as well as secondary regional locations in Austria, Hungary and Poland.

CBRE served as exclusive real estate advisor to CA Immo, with Dentons acting as legal counsel on the deal.