Real estate fund ČS Nemovitostní Fond, managed by investment company REICO Investiční Společnost České Spořitelny, has acquired the City Tower administrative building in Prague-Pankrác from PPF Real Estate Holding. The transaction is worth CZK 4.4bn. City Tower has 27 above-ground floors with dominant office premises and three underground floors with 781 parking places. The property’s area to let will total ca. 48,900 m2. The entire area is fully rented out.