The qualified investors' fund Luxent Fund SICAV, with its real estate subfund, has purchased two apartment buildings in Prague 2 – Nové Město. The fund recently also acquired an apartment unit in Prague 4 – Hodkovičky and is in talks over further opportunities, including in Prague 1 and 5, Praha-východ, Kolín and Hradec Králové.
"The acquisition of two apartment buildings in Nové Město is a milestone for us. It confirms that Luxent Fund SICAV can find opportunities in prime locations, combining stable property value with potential for further appreciation. Our strategy is not to passively hold assets but to actively create value – through renovation, change of use, reconfiguration and subsequent sale," says Jiří Kučera, Co-Founder of Luxent Fund SICAV. The fund is managed by Amista investiční společnost.
The properties have a total usable area of approximately 1,711 sqm. The first building will undergo a complete renovation and reconfiguration, creating 16 residential units and 6 studios, including a loft conversion that will increase the building's usable area. The exit is expected at the end of 2028. For the second building, the fund is considering several options. Both buildings are within walking distance of the I. P. Pavlova transport hub and Wenceslas Square.
In its first year, the fund raised capital of approximately CZK 140 million (€5.8 million) and is developing its portfolio of projects in the capital and beyond.
The fund is also examining opportunities in other locations, including an apartment building in a municipality in the Benešov area, where 51 units of 1+kk to 3+kk are planned, with an exit by the end of 2028.
"In the coming years we would like to acquire 2 to 4 properties annually, with an exit within 18 months of purchase. We expect total annual purchases of CZK 500 million to CZK 1 billion (€20.7 million to €41.4 million). In the first three years we plan to exit 9 to 15 acquisitions worth CZK 1.5 to 2.5 billion (€62.1 million to €103.5 million)," comments Kučera. Luxent Fund SICAV targets medium-term investment over four years, with annual appreciation exceeding 15%, drawing on the expertise of the Luxent group built around the agency Luxent – Exclusive Properties.
