J&T Investiční společnost is preparing a new qualified investor fund, J&T PROPERTY FUND SICAV, with a subscription period planned to open in December 2026. The fund will encompass the acquisition of the Prague Marriott Hotel and adjacent commercial spaces, completed in August through Prime Hotel Assets Fund SICAV, which is managed by J&T Investiční společnost and will be folded into the new structure. J&T Banka provided capital for the acquisition, with Dosfield Group acting as strategic partner.
Jiří Horák has been appointed as fund manager. He brings experience from some of the largest real estate acquisitions in the Czech market, including the 2025 acquisition of Palladium shopping centre in Prague, described as the largest single-asset transaction in Czech real estate history. He also served as chief investment officer and vice-chairman of the board at REICO Erste Asset Management, where he oversaw the investment strategy and management of a portfolio of 30 properties across Central and Eastern Europe valued at over €2.6 billion.
"When investing in real estate, it is not only the quality of a building and its location that matters, but also how it is managed over the long term. We want to build a fund based on quality commercial properties with stable tenancy relationships while actively seeking opportunities to increase their value," said Jiří Horák, fund manager of J&T PROPERTY FUND SICAV.
The fund will focus primarily on commercial properties in Central Europe, covering office, retail, logistics and hotel segments. Active asset management, further development and improvements to operational efficiency will form a core part of the investment strategy alongside rental income.
"Through financing commercial real estate, we have gained extensive experience, market knowledge and a network of partners. Until now we did not have our own fund platform that would allow us to invest in these properties with equity. That is what we are now changing. The acquisition of the Marriott hotel, including the adjacent office and retail spaces in the centre of Prague, was the first step, and with Jiří Horák we are gaining an experienced manager who has significant transactions as well as the long-term management of large real estate portfolios behind him," said Tomáš Martinec, chief executive of J&T Investiční společnost.
