NOVA Real Estate fund, managed by the fund management company REDSIDE, has completed the acquisition of the home improvement supplies store OBI – Frýdek Místek, from the seller, a development company PTO. OBI is a German multinational retailing company founded in 1970. With more than 650 retail stores, OBI is the largest DIY retailer in Europe, and the third largest in the world. This is a second property with OBI as a tenant in the Fund’s portfolio in the Czech Republic. Deal Value: Undisclosed.
OBI Frydek Mistek offers 7,600 sq m of DIY retail premises and outdoor garden center, as well as 230 parking places.
Fund manager REDSIDE, Tomáš Berka, said:
"This property, with a long lease and a creditworthy tenant, as OBI is, fits perfectly into our investment strategy for the retail assets, as a part of our real estate portfolio. Besides, the deal balances the fund's asset structure in the intended diversification between prime commercial office properties in Prague and retail stores in the regions."
REDSIDE was represented by the ASB Group and Havel & Partners.
Marek Lošan, Partner, Havel & Partners, said:
“REDSIDE is one of our long-term clients. We are pleased that in the spirit of our corporate motto “Connected through success” we can participate on the successful investment projects and be part of the further development of the company portfolio.”
With its real estate portfolio AUM EUR 250 mln. and audited performance of 8,65% in 2018, NRE fund becomes a significant real estate investor and an asset manager in the CEE region. Commercial real estate represents a typical diversification tool for any investment portfolio. Commercial properties in lucrative locations offer attractive value preservation and stable return for a conservative investor. The real estate fund strategy is aimed at the premium type of real estate – business centres, office buildings and other investment opportunities related to the real property market, also began to focus on logistics and industrial real estate assets. NOVA Real Estate is an investment fund with variable capital.
*Investment is intended exclusively for persons fulfilling the definition of a qualified investor in compliance with Section 272 of Act. No. 240/2013 Coll., on Investment Companies and Investment Funds, as amended.
REDSIDE is a fund management company licensed and regulated by the Czech National Bank. REDSIDE runs across the CEE region various alternative investments funds (AIFs) for both institutional and retail investors investing in different areas such as real estate, renewable energy, private equity, bonds, stocks etc with assets worth exceeding EUR 600 mil. Guarantee high level of portfolio, asset, risk management, compliance and all activities within administration of the AIFs.
About NOVA Real Estate Fund
Commercial real estate represents a typical diversification tool for any investment portfolio. Commercial properties in lucrative locations offer attractive value preservation and stable return for a conservative investor. Its focus on quality of tenants, attractive locations with enhancement potential and real estate meeting the highest requirements for quality and technical standards are main aspects of the fund investment policy and its value proposition to investors. The Fund primarily invests in the Czech Republic real estate market and Central Eastern Europe.
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Petr Dudycha
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M +420 725 739 697 | E pdudycha@redsidefunds.com
REDSIDE | Real Estate portfolio
