Telefonica O2 Czech Republic is selling a €162.6m property portfolio to Bohemia Real Estate Investments.
The vendor will lease back a small portion of the space.
The 632,000 m2 portfolio consists of a mix of administrative and technological buildings across the Czech Republic that are redundant or have a low occupancy rate.
Telefonica is keeping only buildings with strategic interest for the company or those that have high occupancy.
Bohemia is part of Czech company Rentera Group, which specialises in sale and leasebacks. The Prague-based company picks assets leased to financial institutions, and leases back space for an average of five years.
Knight Frank is advising.
