Petr Dubinsky

Vaclav Skala Offloads Albatros Building

Billionaire Vaclav Skala sold the former headquarters of Albatros publishing in Prague to businessman Daniel Farnbauer, E15 reports.

The Albatros located on the corner of Narodni and Na Perstyne Street in Prague 1 underwent extensive remodeling over the last few years, which ended last fall. Spaces, a coworking company, currently occupies eight out of ten floors.

Mr. Vaclav Skala owned Albatros as an individual, rather than through his company Prague Property Management. Mr. Farnbauer acquired the building via the holding company Real Estate Albatros. Neither party commented on the sale or transaction amount.

The Albatros building was built in the second half of the 1960s according to the design of architects Stanislav France, Luděk Hanf, and Jan Novacek. The first major renovation was in the 1990s. Ceska sporitelna operated out of the building and sold it to Skala in 2008.