Private investment company CIMEX GROUP has appointed international real estate advisor Savills as property and leasing manager for its portfolio of twelve properties, ten in Prague, one in Plzen and one in Karlovy Vary, Czech Republic, with effect from August 2020. The total floor area of the buildings is more than 100,000 sq m (1,076,000 sq ft) and the portfolio currently provides premises for more than 500 tenants.
CIMEX GROUP has been one of the largest private investors in the Czech Republic for 30 years already. The main focus of the group is strategic investment, including hotel projects and administrative buildings.
Alexandra Němcová, asset management director CIMEX GROUP, says: “The appointment of a single adviser for the majority of our Czech commercial portfolio will guarantee a consistent approach for all building users and we are pleased to have selected Savills for this important role.”
Petr Machula, Head of Property Management at Savills Czech and Slovak Republics, adds: "It is a great honour to expand our cooperation and to become the exclusive property and leasing advisor for CIMEX’s commercial portfolio. All the properties have value-add potential, which combined with the owner’s active asset management strategy, will further improve their appeal to tenants in the future."
Savills first started working with CIMEX in September 2018 as the property manager for a portfolio of three office buildings located at Prague 10 (Garden Eleven and Atrium House) and Prague 8 (Zenklova).
Savills property management department in the Czech and Slovak Republics was established in April 2017 and currently manages a portfolio of more than 335,000 sq m (3,604,600 sq ft), including office buildings, industrial parks, as well as mixed-use and retail projects.