Media image

ČMN has completed its largest real estate portfolio acquisition valued at several billion CZK

The investment group Českomoravská Nemovitostní (ČMN), the third-largest office space landlord on the Czech market, together with the NEMO fund, has completed the acquisition of a portfolio from the NOVA Real Estate property fund valued at approximately 5 billion CZK. The transaction includes 5 office buildings with a total rentable area exceeding 37,000 m² and 11 retail parks covering an area of 72,000 m². With this acquisition, the ČMN group will expand its business into the retail segment.

The acquisition includes a total of five office buildings, with the NEMO fund directly purchasing four Prague office buildings from the seller: Smíchov Gate, Anděl 17, Idea Office Building, and Victoria Vyšehrad. The fifth building, Panorama Business Centre near the National Museum, was added to the ČMN portfolio. These administrative properties are located near key transportation arteries and commercial centers, offering excellent accessibility by both car and public transport. Due to their strategic locations and modern facilities, these properties meet the highest standards and offer tenants comfortable and representative spaces. In addition to office buildings, the ČMN group’s portfolio has expanded to include retail properties, which they see as having great potential. Specifically, these commercial properties cover an area of 72,000 m² and host a wide and diversified tenant base, including Ahold, Penny Market, OBI, and Tesco.

"We are thrilled to announce our largest acquisition in history and one of the biggest transactions on the Czech market this year. In recent years, the market has seen low transactional activity. While ČMN was eager to expand its portfolio, we hadn't found an acquisition truly worth it. We are all the more pleased that waiting for this transaction paid off. This significant acquisition aligns perfectly with our growth strategy and allows us to diversify our portfolio with quality and profitable properties. We believe these buildings will generate stable and long-term returns for our investors," said Radek Stacha, Chairman of the Board of ČMN.

The latest strategic property acquisition, financed by the German bank Helaba Landesbank Hessen-Thüringen from the NOVA Real Estate fund managed by the investment company REDSIDE, represents a significant milestone for ČMN and further strengthens its position in the emerging Czech commercial real estate market. "The Czech investment market remains one of the most attractive in Europe. We are pleased to provide financing for this significant transaction for our long-standing client ČMN," commented Jürgen Schleimer, Director of Real Estate Finance CEE at the financing bank Helaba.

The property portfolio includes modern and strategically located office buildings in Prague, boasting high occupancy rates and long-term lease agreements with renowned international and local companies such as Google, Hochtief, Cemex, and Mercedes Benz.

"We have carefully built and managed the real estate fund portfolio since 2016, and when most of our investors decided to liquidate their positions in the fund, it was our task to sell the properties as best as possible. Congratulations to Českomoravská Nemovitostní on this acquisition, and sincere thanks to their team and all the advisors on both sides for expertly handling the transaction process. Completing such an extensive transaction on schedule within half a year was a real challenge for everyone," said Rudolf Vřešťál, founder and Chairman of the Board of REDSIDE.

"We thank our client, REDSIDE, for the trust they placed in us to manage the tender and sales process on their behalf. Based on the results of a highly competitive tender process, we recommended to our client to proceed with the preferred offer from ČMN, which provided strong commercial terms with transaction certainty and knowledge of the existing portfolio," commented Stuart Jordan, CEO of Savills.

ČMN has long focused on investing in properties with high growth potential and stable cash flow. The company has a strong financial position and an experienced team of experts specializing in acquisitions, management, and development of commercial real estate. The acquisition was subject to approval by the Office for the Protection of Competition.

Media image
Media image

Office Complex Churchill Square Welcomes New Tenant, Red Bull

The investment group Českomoravská Nemovitostní (ČMN) confirms the continued high demand for quality office spaces in Prague. Red Bull has become a new tenant in the prestigious Churchill Square II office complex, managed by ČMN, further increasing the already high occupancy rate of the building. This transaction underscores the attractiveness of Prague 2 and the high demand for quality offices.

Media image

ČMN completes Churchill acquisition

Českomoravská nemovitostní (ČMN) has completed its acquisition of Churchill Square office complex above Prague’s main train station. To do so, it bought out the remaining 50% share from its Lebanese partner CFH. The two bought the building together from Penta Real Estate at the end of 2020. It’s the latest in a long string of deals where local investors have used the lack of foreign investors in the market to snap up key real estate assets.

Media image

ČNM appoints new head of property

The investment group Českomoravská Nemovitostní (ČMN) has announced the appointment of Iveta Valentová as the new Head of Property. Iveta is bringing to ČMN experience and knowledge in real estate management acquired during her 11 years at CBRE.

Media image

The real estate fund NEMO delivered one of the best returns on the market last year. The number of investors increased by half

In 2023, the real estate fund NEMO achieved a return of 7.21%. This placed it among the top-performing retail real estate funds in the Czech market. The total return since the fund's inception in June 2019 has already exceeded the 30% threshold. Moreover, NEMO has also seen success in attracting new investors, with their number now exceeding 8,600, which is half as many again as the previous year.

Media image

ČMN strengthens its team with experienced financial director Alice Augustová

Alice Augustová has been appointed to the position of financial director, a professional with almost thirty years of experience in the fields of finance and real estate. Her extensive expertise and profound professional knowledge will contribute to initiating the next phase of the company's growth and strengthening ČMN's position in the Czech real estate market.