The largest manager of mutual funds in Slovakia, Tatra Asset Management, and the real estate company Alto Real Estate are joining forces in their businesses focused on the rental of administrative premises – Reality Trend reports.
Ensuring office projects
Tatra Asset Management, the largest manager of mutual funds in Slovakia, and Alto Real Estate, a leading real estate investor and developer, announced their partnership and the creation of a joint venture to manage the office projects Digital Park 1 and 2, SKY PARK Offices and CBC 345 The majority stake in the joint assets will be retained by Alto Group, which will be responsible for the management of this joint portfolio.
“I am glad that we managed to get a responsible and strong partner. Cooperation with Tatra Asset Management is a key step in our effort to provide quality services to our tenants. We believe that the joint venture will allow us to obtain synergistic effects and ensure that these office projects continue their success,” – Ján Bryndza, Business Director for Alto Real Estate told.
To optimize operation
This step is proof of the commitment of both companies to improve the business environment and provide modern and high-quality workspaces for their clients. The joint venture will use the professional experience and skills of both partners in order to optimize operations and effectively manage these important office projects.
“We announce cooperation with the experienced and strong partner Alto Real Estate in the best market segment of office projects in Slovakia. By strengthening our presence within the main business zone (CBD) in Bratislava, we fulfill our long-term real estate strategy with a focus on premium assets and locations that offer a diversified source of income and the most stable growth potential for our real estate funds. We believe that in this way we can offer companies not only a high level of office space, but also the efficiency of their operations and professional asset management“- Martin Ďuriančik, vice chairman of the board of Tatra Asset Management pointed out.
A transaction of this scope was subject to assessment and approval by the regulatory authority, which is the Antimonopoly Office of the Slovak Republic. The regulatory authority came to the conclusion that the considered concentration is in compliance with the Competition Act.