Crestyl has introduced its own Crestyl SICAV fund, operating under the supervision of the Czech National Bank. The open-ended fund of qualified investors is focusing on residential and commercial projects at various stages.
The fund is based on a diversified portfolio and 25 years of experience of the Crestyl Group, with a current balance sheet total of €1.4 billion. The direct involvement of one of the largest Central European developers offers a preferential return of up to 7% p.a.
The fund's income will be generated primarily by interest income. The recommended investment horizon is 3 to 5 years, but investors will be able to enter the fund and withdraw funds every quarter, with the exception of the first three years of the fund's operation. The minimum investment is CZK 1 million (€41,000). The seller is Avant Investment Company.
"The Crestyl Group has been constantly growing, not only in the Czech Republic, but also abroad for the last four years. We want to continue to strengthen our position, and to do this, we need to diversify our capital sources. That is why we decided to establish the fund," says Simon Johnson, CEO of the Crestyl Group.
The fund will participate in co-financing projects where Crestyl itself is the developer and owner. It will invest in projects at various stages of development and in already completed projects that generate stable income. The first projects implemented in the coming years will include commercial and residential buildings in the newly emerging Prague district of Hagibor, the Savarin complex in the heart of Prague, and the BOKA Pankrác office building.
