Czech investment platform Upvest has entered the Slovak market with its first cross-border loan financing. The company secured a mezzanine construction loan of 187.5 million Czech crowns (€7.5 million) for the Zwirn 2 residential project in Bratislava.

A new fund managed by Upvest and the investment company RSJ have secured a quarter share in the Černý Most shopping centre in Prague, reports Hospodářskénoviny.cz.

Upvest has recently closed an investment in the form of participation in a mezzanine loan for the Opatov Office Park in the Czech Republic, where Savills' technical assessment has played a crucial role.

Upvest from Komerční banka Group together with the American real estate firm Lincoln Property Company has bought the Zirkon office centre in Prague 8 from Českomoravská nemovitostní (ČMN). The price of the transaction has not been disclosed.

Despite the difficulties caused by COVID-19, the year 2020 was a turning point, in a positive sense, for most Czech Proptech companies. as the pandemic situation created strong pressure to automate and digitize processes using modern technologies. These technologies include machine reading, artificial intelligence or the Internet of Things. Many companies have expanded to foreign markets, where Czech solutions for residential and commercial development are receiving positive responses. The Czech-Slovak Association of PropTech Companies has received feedback from 5 progressive companies.