Prague, June 7, 2022 – Real estate fund INVESTIKA, the largest non-bank retail real estate fund in the Czech Republic, has expanded its portfolio to include the top-class Tensor office complex in the Polish city of Gdynia. The transaction, worth more than one billion crowns, was executed jointly with the Luxembourg private equity company BUD HOLDINGS SA. “After the March acquisition of a production logistics complex near Wroclaw, Poland, we have now seized the opportunity to increase the weight of office properties in our portfolio,” says the portfolio manager of real estate fund INVESTIKA Václav Kovář.
The Tensor complex, completed in 2017, is characterized by its architectural quality as well as its excellent location in the administrative-business district of Gdynia. Together with Gdansk and Sopotas, it forms the dynamically developing region of the Tri-Towns, which according to surveys is currently the most desirable place to live in Poland. At the same time, in a promising Polish economy, it is one of the five most attractive regions for investors with extraordinary growth potential for the future.
The complex, consisting of three separate buildings with a total leasable area of over 20,000 square meters, has the BREEAM Excellent sustainability certificate and is now fully occupied. The 15 tenants include stable international companies such as the Nordic financial group Nordea Bank or the logistics company DB Schenker. The weighted average length of lease contracts (WAULT), which reaches 6 years in this building, is also above standard.
With the acquisition of the Tensor complex, real estate fund INVESTIKA continues to fulfil its vision of becoming a real estate fund with a wide range of assets across Europe and assets worth one billion euros under management. “Our fund capital is growing rapidly thanks to the increasing interest of investors – it now amounts to more than 11 billion crowns. Besides the Czech Republic, Poland and Western Europe, we now have in our sights acquisitions in other regions that have significant potential in terms of achieving a long-term attractive and stable return,” concludes Kovář.
Real estate fund INVESTIKA, an open-ended mutual fund managed by INVESTIKA, investiční společnost a.s., has since its inception in 2015 focused on valuing client`s money through conservative investments in commercial real estate. It is currently the second largest retail real estate fund on the Czech market with a fund capital of 11.3 billion crowns. It has already brought its general public clients a valuation of almost 37%* (CZK class) since its inception. The Euro asset class was also created in 2020, which achieved a performance of 8.96% for the whole of 2021*. More information about the investment company and real estate fund INVESTIKA, OPF, can be found at www.investika.cz.
BUD HOLDINGS SA. is a private commercial company based in Luxembourg, which deals with private equity investments mainly in real estate assets. It focuses its attention on the preparation and realisation of investments in Central and Eastern Europe, usually in cooperation with a strong majority shareholder. During the last 3 years, BUD HOLDINGS SA. as a co-investor participated in real estate transactions amounting to more than 150 million Euros. More information about BUD HOLDINGS SA. can be found at www.bud-holdings.com.