A newcomer to the Czech market, the real estate fund Aurelia, aiming for a net return for investors of at least 6% per year, has now acquired a set of two premium office buildings in Prague.
The River Garden II and III complex in Prague's Karlín ranks among the domestic leaders for its location on Rohanské nábřeží in the heart of the office district, and also for BREEAM and WiredScore Platinum certificates.
The offices, with a total area of over 27,000 sqm and a complex of terraces, have been achieving almost full occupancy continuously since their opening in 2014. The largest tenants include Phillips, STRV, and ePojisteni.cz, NCR and Gym Beam, with the average period of lease agreement termination now exceeding 4 years.
“River Garden II and III fit perfectly into the conservative strategy of the Aurelia fund,“ describes the transaction worth more than CZK 2 billion (€82.3 million), Fraser Watson, Head of Real Estate at the Axelor group, to which the fund belongs.
The Aurelia fund is open to a wide range of investors, with a minimum initial investment of just CZK 500 (approximately € 20.60). Since November 2024, when the fund was established, it has already raised almost CZK 1 billion from investors. In addition to these funds, the syndicate of UniCredit Bank and Česká spořitelna also participated in financing its first acquisition.
The fund plans to further expand its portfolio by the end of this year, again in the Czech Republic. "We expect that the Aurelia fund will manage assets of approximately CZK 3 billion (€123.5 million) after the first year of its existence and, with an appreciation of 8%, will exceed its long-term goal. In each subsequent year, we plan to make acquisitions worth CZK 3 to 3.5 billion (€123.5 to 144 million)," adds Pavel Svoreň, Chairman of the Board of Directors at the Axelor Group.
