HB Reavis sells Skanska two Prague projects

Skanska's Czech division has acquired the Merkuria office building on Argentinska street in Prague 7 from HB Reavis, a deal which includes a permitted project for a new office building that will replace it. The transaction is in line with the developer's strategic decision to invest heavily in the Holesovice area. Last year it completed the Visionary office building, across the street from the train station, and it's also preparing Port7, an extensive new complex. At the same time as the Merkuria deal, Skanska also acquired a 13,000 sqm along Radlicka street in Prague 5 from HB Reavis, which is selling off its Czech assets to focus on larger projects elsewhere. Skanska intends to build a 24,000 sqm office building on the site.