WOOD & Co through its Real Estate SICAV Fund has acquired an 85% stake in HARFA
WOOD & Co Real Estate SICAV Fund has acquired HARFA shopping mall and office park from Lighthouse Group. Financial details have not been disclosed.
WOOD & Co established a SICAV fund structure under Czech legislation, regulated by the Czech National Bank. This SICAV fund structure (umbrella structure) set up its real estate sub-fund for qualified investors which serves as an investment and holding vehicle for the 85% controlling stake in HARFA. The fund is managed by WOOD & Company investiční společnost, a.s., has issued investment shares and does not intend to pay dividends.
HARFA is one of the largest shopping malls and administrative centers in Prague, the Czech Republic. It is comprised of HARFA shopping mall, with more than 160 shops on three floors and a total area of 41,500 m2, and HARFA office park, with 20,500 m2 of office space on twelve floors.
Lighthouse Group is a leading real estate developer and operator present in the Czech Republic since 2000.
Oaklins' team in Prague managed the acquisition of an 85% stake in HARFA and acted as financial advisor to the acquiror. The asset is currently owned and managed by WOOD & Co Investment Company via WOOD & Co Real Estate SICAV Fund.
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