NEMO Fund expands its portfolio with CORSO Karlín office building

The real estate fund NEMO, which has been operating on the market for 3 years, has added another office building to its portfolio - the modern office complex CORSO Karlín. The building is located in the lucrative area of Prague 8 Karlín. Thanks to this acquisition, the total value of NEMO's portfolio now exceeds CZK 3 billion. The area of commercial space owned by the fund is nearly 40,000 sqm. 

July 13, 2022, Prague - The founder of the NEMO real estate fund is the real estate group Českomoravská Nemovitostní, which specializes mainly in office projects in Prague.

"CORSO is a premium project that meets all the criteria required by the NEMO fund as part of its investment strategy. The building is adapted to modern standards, it is located in a sought-after location in Karlín and of course it is fully occupied,"
says Josef Eim, Vice-Chairman of the Board of Directors of the real estate group ČMN. "Investing in real estate funds is nowadays one of the most sought-after investment instruments thanks to inflation clauses that help protect investors against inflation," adds Josef Eim.

Inspirational office space on the metro

CORSO Karlín offers office space with an inspiring atmosphere created by combining industrial design and modern offices. The building with 4 floors and a total leasable area of around 9500 sqm provides up to 123 parking spaces right in the heart of Karlín.
 The CORSO Karlín office building itself was built in 1890 and is part of the ambitious New Karlín plan, which consists of renovating the former ČKD industrial complex in Karlín. CORSO Karlín is a former industrial hall known as a "tin factory" that architects Ricardo Bofill Levi and Jean Pierre Carniaux have transformed into a modern, purpose-built office building.

The largest tenants include Quantcom, Euro-Center Prague and ICON Communication Centres.

 Conservative appreciation of around 6%

The NEMO fund aims to deliver an attractive return of 1 to 2 percentage points above the inflation rate to its investors over the long term. The expansion of the NEMO Fund's portfolio will provide its investors with a higher level of diversification and at the same time have a positive impact on the fund's performance. 

"By the end of the year we expect a return of around 6%. The years 2023 to 2024 will be very interesting, which will reflect this year's inflation rate and the rise in construction costs," adds Josef Eim.

The fund's portfolio currently includes five office buildings located in Prague. In addition to the newly acquired CORSO Karlín building, these include the Nestlé headquarters building in Modřany, an eight-storey building in the upper part of Wenceslas Square, a multifunctional office building on Pekařská Street in the western part of Prague and the Apeiron office building in Karlín. The largest tenants of the buildings within the fund's portfolio include Dial Telecom, ICON Communication Centres, Nestlé, Siemens and Swietelsky stavební. 

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