Zeitgeist Asset Management has completed the sale of six apartment buildings in Prague to the investment company BHM Group. The international advising company Charles Irvine has brokered the transaction.
The portfolio of properties sold includes 94 rental apartments and 5 non-residential premises totalling 7,500 sqm. The buildings are situated in the interesting quarters of Prague 1, 2 and 5. All properties have undergone complete reconstruction under the management of Zeitgeist Asset Management in recent years and were fully occupied by stable tenants at the time of sale.
"The sale of this part of our residential portfolio was carried out in accordance with our long-term investment strategy. We appreciate the trust of the BHM group, which was reflected not only in the acquisition itself but also in the decision to continue with Zeitgeist as the property asset manager. We see this as an appreciation of our services in this area," said Michal Nečas, Managing Director at Zeitgeist Asset Management.
Jan Černý, Managing Director of BHM group, highlighted an interesting investment opportunity: "The rental houses attracted us primarily because of their technical condition after recent renovations and their location."
