Realita acquires Prague's Máj department store

The Realita real estate investment fund, managed by ATRIS, has purchased a controlling stake in the company that owns the renovated Máj department store in the centre of Prague. The fund expects regular income from property rentals from the transaction, the fund said in press release on Friday. The company did not disclose the value of the transaction, and it also secured an option to purchase the entire real estate company.

The Máj department store on the corner of Národní Avenue and Spálená Street opened to the public on June 24th last year after a roughly two-year reconstruction. It offers shops, restaurants, entertainment centres and a rooftop observation terrace on nine floors.