Crowdberry, an investment platform enabling private investors to invest in Czech and Slovak companies and real estate, has launched a new qualified investor real estate fund, the CB Property Investors Subfund (CBPI). The fund aims to invest €30 million over the next three years to deliver a portfolio of ca. +€75 million in total value. CBPI will focus on value-add real estate across different asset classes and will target above-market returns of 10+% p.a. for investors by unlocking and elevating the value of Czech and Slovak real estate.
The fund’s activities will be executed by a team of respected real estate professionals with over 50 years’ combined experience. CBPI will be led by Omar Sattar, an experienced real estate and private equity expert. As a CEE Director for the leading European real estate investment and asset management company Avestus Capital Partners, he was involved in investment transactions with a total value of more than €2 billion. He currently serves as a non-executive member of the board of CPI PG, the CEE region’s largest property company, and his real estate history also includes other senior positions such as Managing Director of Colliers International and DTZ in the Czech Republic. The leadership of the fund will be supported by Peter Bečár, Partner at Crowdberry who was the former CEE Managing Director for P3 Logistics Parks.
“The launch of the CBPI fund is another major milestone in Crowdberry's expansion. Our 5-year record of growth capital investment across a range of industries allows us to draw on cross-industry insights while also following global mega trends when analysing real estate opportunities. Given our investments in innovative e-commerce companies like Footshop and GymBeam, as well as last mile logistics, startups and proptech platforms such as AKULAR, Ecocapsule and Boataround, future value creation is key to our strategy. Over the past two years, we have also fundraised capital and invested in areas such as senior housing, residential and industrial developments, which underlined the interest of many of our investors in real estate. A balanced, multi-sector real estate approach by CBPI will reduce risk while delivering the desired investment returns,” says Peter Bečár, Partner at Crowdberry.
The CB Property Investors Subfund will focus on logistics properties, retail parks and residential projects, while also taking advantage of off-market opportunities in value-add real estate across various asset classes. The fund is open-ended and aims to invest €15 million in the next 12-18 months. Fundraising will start in March 2021, with the minimum investment set at CZK 1 million or euro equivalent.
“Even after 25 years of rich development across many asset classes in the Czech Republic and Slovakia, there are still plenty of excellent opportunities to redevelop and refurbish real estate, and to partner with owners to help enhance the value of the asset or co-finance ongoing projects. The CB Property Investors Subfund will unlock future potential and create benefits for occupants,” said Omar Sattar, Real Estate Managing Director at Crowdberry, who added: “Value-add property investment requires a deep understanding of the market, the ability to source opportunities, and the vision to execute projects. By leveraging the experience of our team in both real estate development and operations, we will identify untapped asset potential. Thereafter, we will improve business models, operations, sales, marketing, and communications to deliver superior, risk-adjusted returns for investors.”
The fund is regulated by the Czech National Bank, with ČSOB acting as the depository bank. The fund’s administration is being undertaken by Winstor investiční společnost, a.s. and audited by BDO Audit.
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