The partners at Mint Investments have set up a new real estate fund that will target people interested in investing in residential real estate. MINT rezidenční fond SICAV, a.s. will be buying rental residential buildings in larger Czech towns but the focus will be in Prague and Brno, where it just completed its first acquisition. Mint Living Brno Campus cost the fund more than CZK 500 million but it will be collecting rent from the 120 flats the project offers, along with offices and retail units. Mint is working with Ceska sporitelna, which will act as the custodian bank and with KPMG Ceska republika Audit. “Our long-term goal is to be a leader in the dynamically developing sector of modern rental living,” says Radim Bajgar. All apartment buildings the fund buys will be run under the Mint Living brand. Bajgar said the company is in negotiations with several developers about building projects that would suit the new fund. He’s interested in projects of at least 100 units that were designed from the beginning for the purpose of renting. The fund, which is targeting retail clients interested in returns of between 4 percent and 5 percent, with the minimum investment having been set at just CZK 500.
