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S+B Gruppe sells 2 Prague office buildings for €110M

Austrian developer S+B Gruppe AG sold two office developments totaling 28,000 square meters in Prague for approximately €110 million.

Allianz Group's Allianz Real Estate unit acquired the Trimaran and Element buildings in the Pankrác office submarket on behalf of several Allianz insurance companies.

Allianz said in a release that the transaction marks the firm's first office equity investments in the Czech Republic.