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News Release


With the sale of AFI Palac Pardubice, JLL closes-in on €1bn Czech commercial real estate investment in 2014

​Prague, 14 November, 2014 – JLL, acting as exclusive disposal agent to AFI Europe, have successfully advised on the sale of AFI Palac Pardubice, a 20,000 sqm shopping centre in the Czech city of Pardubice. The buyer was Atrium European Real Estate; the price has not been disclosed.

The centre, first opened in 2008, is located in the very centre of the city and includes tenants such as H&M, Tommy Hilfiger, New Yorker and Gant. The retail line-up is further complimented by a conference centre, multiplex cinema, food court and adjoining Tesco supermarket - generating nearly 10 million shopping centre visitors per year.

Stuart Jordan, Head of Capital Markets at JLL commented: “The disposal is indicative of the significant interest in well performing dominant shopping centres in the Czech Republic. We were delighted to be able to work with AFI Europe again here in the Czech Republic, following our successful sale of Palac Flora on their behalf in 2011.”

Along with other major mandates in 2014, including the disposal of the Bora Bora Portfolio on behalf of Tristan Capital Partners, acquisition of Rudná Business Park for Prologis, sale of Burzovní Palac (housing the Prague Stock Exchange) and a selection of other transactions either finalised or set to conclude by year end, JLL expect to report €1bn of institutional commercial real estate transactions for the year out of a trading volume widely predicted to reach ca. €2bn. 

About JLL

JLL (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 fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $50.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

In Russia and CIS JLL has offices in Moscow, St. Petersburg and Kiev. JLL, Russia & CIS was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009, 2010, 2011, 2012 , 2013 and 2014 at the Commercial Real Estate Awards, Moscow; Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg and The Best Real Estate Consultancy in Ukraine at the Ukrainian Property Awards in 2013.

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