CB Richard Ellis has advised Hypo Real Invest on the acquisition of the controlling interest in the Andel City SO 16+17 office property in Prague for EUR 17.5 mln. The transaction involved the purchase of a 90% stake in the vehicle that owns the office building from a company owned by Austrian development group UBM.

UBM will remain involved in the asset via its 10% holding. The 6,750-m2 property is a fully-leased Grade A office building constructed over seven upper levels and two underground levels.

This is Hypo Real Invest's second acquisition in the Czech Republic this year. The fund acquired the Vysehrad Victoria office building in Prague 4 in March, with. CBRE also acting as adviser.