Penta Real Estate sold the BCT 2 office building in Košice

Penta Real Estate completed the successful Business Centrum Tesla 2 office building project in Košice by selling it to the Austrian company European City Estates. The BCT 2 provides 14,600 square meters of office space. The largest tenants include the companies T-Systems Slovakia, Deloitte, Diebold-Nixdorf and Colonnade. On the seller side, transaction was advised by JLL, a real estate-consulting company, and the purchase price was not disclosed upon agreement between the parties.

After the completion of the upcoming construction of BCT 3, this project will also be sold to ECE. A building permit has already been issued for the BCT 3, and the start of construction is planned for next spring. The total leasable area of BCT 3 will be 15,500 m2.

“BCT 2 is one of our most successful office projects. Demand for its modern premises has been so high, that the building was almost fully let since it’s opening. We are pleased that this property will be part of the portfolio of such an important investor – for us, it is a good testimony that we implement quality projects that are interesting for investors from both commercial and technical view,” said Juraj Nevolník, CEO of Penta Real Estate Slovakia.

“Our decision to invest in Košice was driven by the outstanding quality of BCT 2 as an office building and the very positive sentiment we have about the Košice region in general and especially the office market there. We appreciate also the very professional transaction management by Penta Real Estate Slovakia,” said Dejan Mansfeld-Rupnik, Member of the Board at ECE European City Estates Group.

"In the capitals of Central Europe, we currently see a strong competition among investors during bidding processes. It forces investors to look for interesting opportunities beyond the usual areas. With the exception of Polish regional cities, where foreign and even institutional capital is present, the decision of investors to direct capital into office sector in regional cities in Central Europe is relatively rare. Therefore, those who are able to properly assess investment potential and are not burdened with prejudices can benefit from less competition and higher returns on their investment,” added Rudolf Nemec, Capital Markets JLL Slovakia.

About the BCT project

Together with the fully leased BCT 1 office building of 17,650 m2 and the planned construction of the third phase, the BCT will form a large office and technology park providing 48,000 m2 of leasable space in the strategic location of Košice with good transport and communication connections.

About JLL Slovakia

JLL Slovakia was established in 2006. Currently, it provides services in the field of investment consultancy (capital markets), valuation, research, land investment and development, leasing of office (office agency), industrial (industrial agency) and retail space as well as the services in the field of property and project management (www.jll.sk). In the last 12 months JLL΄s Investment team helped its clients to dispose or acquire assets in Slovakia in excess of 320 mil. Eur.

About Penta Real Estate

Penta Real Estate is one of the platforms of the Central European investment group Penta, which was founded in 1994. The real estate division of Penta currently has 26 projects in Slovakia, Czech Republic and Poland, and it mainly focuses on the segment of offices, apartments and retail. In 2017 the value of Penta Real Estate's assets reached EUR 1 billion.

About Penta

Penta is a Central European investment group established in 1994. It operates mainly in healthcare, financial services, manufacturing, retail, media and real estate development. Its portfolio companies provide jobs to more than 44,000 people and reported assets of EUR 10.4 billion in 2018. Penta operates in more than 10 European countries and has offices in Prague, Bratislava and Warsaw.

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