PPF bought plots of three Wenceslases in the USA. An office complex on them

“We successfully continued our entry into the US real estate market in March this year. PPF Real Estate thus continues to expand geographically as part of the ongoing diversification of its portfolio. The US real estate market provides a number of exciting opportunities, and we look to different opportunities to accelerate the growth and diversification of our portfolio and its penetration into new market segments, including development, ”said Aaron Smith, CEO of PPF Real Estate USA.

PPF Real Estate Holding infiltrated American real estate in the spring with the purchase of the large Mansell Overlook office complex, which is one of the most important office complexes in the Atlanta metropolitan area. The daily E15 was the first to report on this acquisition. PPF said in the spring that the sale price of the first US acquisition exceeded $ 100 million. According to information from the market, it even exceeded the amount of 142 million dollars, ie three billion crowns. The transaction was also one of the last to be negotiated during the life of the recently deceased PPF founder Petr Kellner.

PPF is facing another major acquisition in the US, recently Hospodářské noviny pointed out. PPF paid a total of $ 315 million for the SouthPark Center complex in Florida, ie over seven billion crowns. However, the business is in the order of hundreds of millions of dollars. “The total amount of investment allocated for these transactions and future business development in the US market has exceeded $ 500 million after one year of operating PPF Real Estate in the United States,” said PPF Real Estate.

The SouthPark Center is considered one of the most sought-after suburban complexes in the southeastern United States. The complex of ten separate Class A office buildings offers a total leasable area of ​​120,000 square meters of office and retail space. The transaction includes an additional 12.5 hectares of land for future commercial real estate development. For comparison, Prague Wenceslas Square has an area of ​​over four hectares.

SouthPark Center tenants include Booking.com, Accenture, Lockheed Martin, CVS Caremark, Diamond Resorts, Jet Blue, Centene and Marriott.

PPF Real Estate was established in 2010 and owns real estate in the Czech Republic, Germany, the Netherlands, the United Kingdom, Russia and Romania. It also owns a logistics center in Ukraine. In total, it manages assets worth two billion euros (over 52 billion crowns). The company first announced its planned real estate expansion to the United States last year.

PPF Group currently operates in three countries in the USA. PPF Real Estate is active in Massachusetts through the biotechnology company Sotio, in Florida and Georgia.

Thirty years of the PPF Group

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