The developer of Prague’s Palladium, European Property Group, has bought another shopping center, the Varyáda center in Karlovy Vary. The companies did not disclose the price of the transaction. This year it is the fifth shopping center sold in the Czech Republic.
The real estate consultancy CBRE, which represented the seller Invesco Real Estate, reported on the sale.
The Varyáda shopping center was opened in March 2005 and offers approximately 18,000 square meters of retail space occupied by the Albert hypermarket and 65 other tenants.
European Property Group plans to significantly expand the shopping center to more than 120 tenants. Varyada is surrounded by residential areas and sports and leisure facilities.