HB Reavis sells part of City Business Centre in Bratislava

In March 2014 the development group HB Reavis sold three of the five buildings in the City Business Centre office complex in Karadzicova Street between the Ruzinov and Stare Mesto districts of Bratislava. The new owner of buildings CBC III, IV and V is the company Tatra Asset Management. The cost of the transaction has not been disclosed by any of the parties.

HB Reavis is planning to use the funds to invest in other projects in Slovakia and in other markets, particularly those of the UK and Turkey. The three buildings, CBC III, IV and V, were completed in 2011. HB Reavis began to work on the buildings in 2008. They constituted the third stage of the City Business Centre, and the first two were completed in 2007.

The economic crisis forced the developer to put the third stage of this project on hold and to change it from a residential complex into an office establishment. The leasable area of buildings CBC III, IV and V is 26,000 m² overall. The tenants in these three buildings include Swiss Re Business Services, Johnson & Johnson, Sygic, Schneider Electric Slovakia and Zepter Slovakia. The ground floor of the buildings contains stores, banks, restaurants and a Billa supermarket.