European Markets

Czech investment group PPF continues push into U.S. property market

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PRAGUE, Dec 3 (Reuters) - Czech investment group PPF's real estate unit has acquired a second U.S. office complex as part of new push into the market, buying the SouthPark Center in Orlando, Florida, in a deal valued at over $315 million, it said on Friday.

The deal is the second for PPF, founded by late Czech billionaire Petr Kellner. PPF said its PPF Real Estate unit has invested or secured investment commitments of over $500 million in its first year of operations in the U.S. market.

"The U.S. market offers a number of attractive opportunities, and we are now looking into various options to rapidly grow our portfolio while diversifying into new asset classes and pursuing development opportunities," Aaron Smith, the group's U.S. managing director, said.

PPF operates businesses in financial services, telecoms, media and engineering in 25 markets spanning Europe, Asia and North America, holding assets valued at 40.3 billion euros ($45.6 billion) at the end of June this year. read more

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Reporting by Jason Hovet Editing by Nick Zieminski

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