Czech National Bank (ČNB) has approved a prospectus with the limit of CZK 1.5 billion for the period of 10 years, submitted by Českomoravská Projektová II., a member of Českomoravská Nemovitostní holding (ČMN).
Prague, Czech Republic, July 19, 2019 – ČMN focuses on the purchase of commercial properties in large cities and on leasing them to major national and international players. The total leasable area of buildings owned by ČMN is 40,000 sq. m, with 97 percent being occupied. As of the end of June 2019, the value of the company’s assets was almost CZK 3.5 billion.
Českomoravská Projektová II. intends to use the latest emission to finance real estate acquisitions in the next decade. „The amount of CZK 1.5 billion is the maximum sum. The number and volume of individual emissions will depend on the projects we are going to implement. We will keep informing both the investors and ČNB in compliance with regulatory requirements, “ said Radek Stacha, ČMN‘ Chairman of Board.
Prestigious buildings all over Prague
In 2018, ČMN acquired the office building at Pekařská street (housing Volkswagen Financial Services), the Nestlé headquarters at Mezi Vodami street and a multifunctional building on the Wenceslas Square. Most recently, it has added Crystal, an office building in the Prague district of Vinohrady, to its portfolio.
“When selecting real estates, we put emphasis particularly on a long-term investment horizon and tenant quality class,” explained Stacha.
Purchase of other real estates in the weeks to come
Českomoravská Nemovitostní is a purely Czech-based company with Czech equity. Its investment strategy is exclusively based on an analytical approach, where all economic, legal, accounting and technical indicators are verified and examined in detail before each potential purchase or sale.
“We are currently working on the acquisitions of several properties at the same time, with value exceeding CZK 1 billion in each case. Our target for 2019 is a balance sum of over CZK 7 billion. We are planning to complete two or three more acquisitions by the end of the year,” said Mr. Stacha.