Luxembourg property developer Aceur Investment S.A. has divested the Main Point Pankrac office building for 130 million euros ($147 million).
The 26,500-square-meter building, developed in 2018, is located in the Pankrac district of Prague, Czech Republic.
Aceur Investment sold the asset to South Korean investment holding company Hana Financial Investment Co. Ltd.
Considering the financing cost, the deal, which represented a net initial yield of 4.50 percent, is expected to deliver a cash-on-cash return of at least 7 percent per year to its equity investors.