On April 14th, the real estate company BlackBird Real Estate (BBRE) bought the Red Court office building in Prague’s Karlín district from J&T Real Estate CZ. This fulfills the two parties’ agreement in February of last year. The transaction price was not disclosed.
The building has 7,500 square meters of office space and already has its tenant, the industrial-technological holding company Czechoslovak Group (CSG), and its subsidiaries. The relocation is expected to take place in the spring of 2024.
Jaroslav Martínek, representing BlackBird Real Estate in the media, shared the latest news in the real estate market. According to Martínek, the Red Court office building represents the company’s most significant investment.
The Red Court building in Karlín will not only be home to the CSG headquarters, which is currently located in the nearby Butterfly Palace on Pernerova Street but also to several of its member companies operating in the aerospace and railway industries.
“We plan to relocate companies currently scattered in multiple locations in Prague or outside the capital, which is unsuitable for meetings with foreign customers and partners. This is why our Excalibur International business agency and DAKO-CZ, a manufacturer of railway brakes with a key production plant in Třemošnice, will be located here,” said David Chour, executive and financial director of CSG.