Skanska sells office building in Prague, Czech Republic, for EUR 55 M, about SEK 585 M

Skanska has sold the Praga Studios office building in Prague to a client of CBRE Global Investors for EUR 55 M, about SEK 585 M. The transaction will be recorded by Skanska Commercial Development Europe in the third quarter of 2019. The transfer of the property is scheduled for the fourth quarter of 2019.

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Praga Studios offers a total leasable area of around 12,000 square meters and is fully leased by Edwards Lifesciences, a leading global medical equipment company and other tenants including a co-working operator and IT companies. The building contributes to the local community with a publicly accessible lobby designed to host concerts, theaters or art exhibitions and with a community garden that offers a place for gardening and relaxation to the neighborhood. The property is expected to receive LEED Platinum and WELL Core & Shell certifications. The building was completed in the second quarter of 2019.

Skanska is one of the leading development and construction companies in Europe. Outside the Nordics, the company has European operations in building construction and civil engineering in Poland, Czech Republic & Slovakia and UK. Skanska develops commercial properties in selected home markets in Poland, Czech Republic, Romania and Hungary, while the residential development is active in Prague and Warsaw. In 2018, Skanska had sales of SEK 36 billion and about 14,200 employees in its European operations.