Thursday, 23 October 2025
The investment company Amundi Czech Republic has completed the sale of two high-profile Prague properties — the Forum Karlín complex and the Ibis Hotel on Na Poříčí Street — to Patria, a member of the ČSOB Group. The move marks the beginning of the final phase of Amundi’s KB2 Real Estate Fund, which is preparing to return profits to its investors after several years of activity in the Czech market.
The transaction amount has not been disclosed. Amundi originally acquired Forum Karlín in late 2018 for around €52 million, and market analysts now estimate that the current value could be in the low billions of Czech crowns, reflecting both the property’s prime location and sustained demand for quality real estate in Prague.
The Forum Karlín complex is one of Prague’s most recognisable multifunctional venues. It includes a large concert and conference hall, a modern office section, and a restored historic building that once served as a boiler house. The property previously housed the offices of Economia, publisher of Hospodářské noviny, and is now home to the communications agency Knowlimits.
The sale also includes the Ibis Hotel Prague Old Town, a mid-sized hotel on Na Poříčí Street close to the city centre, adding a hospitality component to the transaction.
Amundi stated that the sale is part of a planned divestment process and a natural step in the fund’s lifecycle. The KB2 fund still owns two Prague office properties — Keystone in Karlín and Polygon House in Prague 4 — which are expected to be sold in the coming months. The fund’s full closure is planned for mid-2026.
According to Amundi’s management, strong interest from local institutional investors continues to shape the Czech real estate market, even as some foreign funds have reduced their presence. “Domestic capital has taken on a leading role in the investment landscape, and demand for high-quality assets remains strong,” said Jozef Murza, from Amundi’s property division.
Amundi continues to manage several other Czech real estate funds, including KB3 and KB4, the latter focused on residential and mixed-use projects such as senior housing, student accommodation, and hotels. Its earlier KB1 fund, which ran for over a decade, delivered a total return of 68 percent, according to the company’s previous reports.
The sale underscores a broader trend in the Czech property market, where long-term investors are rebalancing their portfolios amid changing interest rates and economic conditions, while local buyers — including banks and investment groups — are taking a stronger position in key assets.
