Sale of the NORDICA OFFICE Administrative Building

We have successfully completed the sale of the NORDICA OFFICE administrative building. This strategic move aligns with our intention to further strengthen our core segment, the portfolio of regional retail parks and grocery stores.

The seller is the Master fund ZDR Investments SICAV. The buyer is the RT TORAX group, a significant player in the office space sector and owner of another administrative complex in the North Moravian capital, Nová Karolina.

With a leasable area of nearly 12,000 sqm and 139 parking spaces, NORDICA OFFICE is among the most significant administrative complexes in Ostrava, Czech Republic. NORDICA OFFICE, a finalist in the Building of the Year 2009 competition, was the first administrative center in the Czech Republic to receive the GREEN BUILDING certification from the European Commission for energy savings 30% higher than Czech standards.

"ZDR Investments Group has decided to exit the office space segment and fully dedicate itself to its core business, which are regional retail parks and grocery stores. We are very pleased to sell the NORDICA building to the RT Torax group, which will contribute to the further development of this property with its know-how and real estate market experience. This property helped us gain relevant size at the beginning of our first real estate fund and has significantly appreciated the invested funds throughout the ownership period. The realization of a transaction of this size at this time also confirms the conservative and correct valuation of our real estate funds' portfolio," comments ZDR Investments Group partner Roman Latuske on the sale.

The funds obtained are planned by the group to be invested in further expansion of its European portfolio of grocery stores and regional retail parks.