Generali Real Estate acquires the headquarters of the Generali Group in Prague

Prague – Generali Real Estate has completed the acquisition from CPI Property Group of a prime office property including two assets in the Pankrác district in Prague, on behalf of the Generali Real Estate Fund (GREF), managed by Generali Investments CEE.

The buildings have been hosting the headquarters of the Generali Group in Central & Eastern Europe since 2008 and have been able to adapt to the hybrid work patterns over the last two years, ensuring flexibility and safety for its occupants.

The assets will undergo extensive refurbishment in line with the highest ESG standards, aiming to minimize the carbon footprint by reducing energy consumption and increasing the use of renewable energy and smart technologies. For the well-being of employees, the complex will also be equipped with cycling facilities, intelligent parking systems, e-car chargers, new collaboration spaces, and will be fully accessible to people with diverse abilities

The office buildings, covering 37,700 sqm, are located in the dynamic office district Pankrác in Prague 4, sought-after for its ideal connections to public transport and the availability of services and amenities. Such location, already one of the most important office districts in town, will be further enhanced by the new metro D line planned to be completed in the near future.

The new acquisition confirms the centrality of Central and Eastern Europe in the investment strategy of Generali Real Estate, which targets high quality assets in prime European gateway cities, such as Prague. With this new investments, Generali Real Estate further consolidates as one of the main European investors in the office segment.

Ramon Spoladore, Head of CEE & Nordics Region at Generali Real Estate, commented: “We are extremely satisfied about the closing of this transaction, which represents one of the biggest office deals in Prague in 2021. Now, finally, the Generali Group owns its home in Prague. We plan to fully refurbish the asset in line with top-notch ESG requirements to transform it into an even more sustainable building, designed around transparency, ethics, integrity, diversity and inclusion.”