Allen & Overy advised HB Reavis on the sale of Twin City A in Bratislava to Prvy realitny fond managed by IAD Investments. The price of the deal was not disclosed. HB Reavis said that the yield was approximately 6.5 per cent. The building, located on Karadzicova street, was completed in 2015 and offers 16,500 sq. m. of office, fully leased to tenants including PWC, Merck Sharp & Dohme, Bayer, BNP Paribas Slovensko and Sfera. This is the second asset HB Reavis has sold to IAD Investments, following the acquisition of River Garden I in Prague two years ago.

In 2016, HB Reavis sold 14 completed properties worth over EU1bn, including its London project, 33 Central, logistic centers in Slovakia and in the Czech Republic, the Konstruktorska Business Center, the Gdanski Business Center in Poland, and Aupark in Piestany.

This year, it was the third key real estate transaction on which Allen & Overy advised HB Reavis in Slovakia, cementing our  relationship with HB Reavis and confirming our strong position on the Slovak market.

The A&O team was led by senior associate Vojtech Palinkas, supported by senior associate Juraj Gyarfas and lawyer Drahomir Siroky.