Skip Ribbon Commands
Skip to main content

News Release

Prague

Iconic Tančící dům finds its latest admirer


Prague, 17 December, 2013 – The Capital Markets team of Jones Lang LaSalle has advised CBRE Global Investors on the successful sale of Tančící dům, also commonly referred to as the ’Dancing Building’ or ‘Fred and Ginger’, located on the bank of the River Vltava in central Prague. The iconic building designed by Frank Gehry and Vlado Milunic was purchased by Mr Václav Skala, a well-known real estate investor and art collector, for a consideration of CZK 360m (app. $18m).

Stuart Jordan, Head of Capital Markets at Jones Lang LaSalle commented: “The competitive disposal process of one the most iconic buildings in Central Europe, if not Europe as a whole, cements the fact that iconic commercial buildings with rich architectural heritage will always generate an extraordinary interest level against more standard commercial stock.”

The property is located in central Prague and comprises approximately 4,000 sqm of office and retail space. CBRE Global Investors CEE will remain as one of the tenants.

Commenting on the transaction, Martin Sabelko, Managing Director of CBRE Global Investors CEE said: “We are very pleased with the sale of the Dancing Building as it clearly demonstrates the liquidity of our assets. The Dancing Building is a modern and well-located building, qualities that we as a business recognise and hence why CBRE Global Investors CEE has chosen to remain as a tenant after the change of ownership.”

 

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 242 million square meters and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.7 billion of real estate assets under management.
In Russia and CIS Jones Lang LaSalle have offices in Moscow, St. Petersburg and Kiev. Jones Lang LaSalle, Russia was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009, 2010, 2011, 2012 and 2013 at the Commercial Real Estate Awards, Moscow and Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg.
For further information, please visit www.jll.ru