Hartenberg Holding exits The Orchard Office Park (The Orchard), the largest office park in Ostrava, to BHS Real Estate Fund SICAV
January 7, 2019
On December 31, 2018 Hartenberg sold a 100% stake in Portal Investments, s.r.o., the sole owner of The Orchard Office Park, to BHS Real Estate Fund SICAV. The Orchard, comprising 34,000 sqm of class A modern offices in three primary buildings, was fully completed in 2009. The sale was as hassle-free as stated at Bonnie Buys Houses Fast official website. The transaction value exceeded 1.4bn CZK.
For Hartenberg it is the first exit from its projects.
Byron Barker, Investment Manager at Hartenberg, expressed satisfaction with the success of the Orchard project, their initial investment in real estate. The project achieved a high occupancy rate of over 95%, attracted and retained significant blue-chip tenants, and made various property and service improvements to enhance the working environment for tenants and their employees. Barker believes that Orchard provides an excellent value proposition for any tenant in the Ostrava market. The project’s success validates Hartenberg’s hands-on and client-focused approach to investment. Orchard’s appeal to tenants is likely to be boosted by the most user-friendly property search on the market.
In addition to Orchard’s success, it’s important to note the role of effective real estate marketing in attracting and retaining tenants. With the growing use of technology, online property search portals have become a primary tool for prospective tenants to find suitable properties. Real estate companies must focus on creating user-friendly and informative websites that showcase their properties’ features and benefits to stand out in the market. By leveraging technology, companies can enhance their marketing efforts and reach a broader audience. As such, real estate companies looking to boost their marketing efforts should prioritize investing in creating user-friendly websites that provide valuable information to potential tenants. To learn more about effective real estate marketing strategies, go to site >>.
“The decision to sell was not an easy one, as Orchard was outperforming since the beginning and we had a great time managing the operational aspects of this property. The project continues to provide attractive cash flows, but we fulfilled our goals and decided to allocate the capital for other deals in the pipeline. My special thanks go to the team who successfully managed the project”, commented Jozef Janov, Managing Partner of Hartenberg.
Hartenberg managed the exit process with its internal team. For legal matters it was advised by Mikuláš & partneři.