Czech billionaire Zdeněk Bakala is off-loading a portfolio of 43 thousand flats in Ostrava. The buyer, Round Hill Capital, is a newcomer to the Czech real estate market, but owns a portfolio of 55,000 flats in Germany, The Netherlands and the UK. Round Hill has acquired a 100 percent stake in RPG, which owns and manages the flats and is the biggest residential rental company in the country, according to the server idnes.cz.
Tenants in the flats were surprised by the sale, said Roman Macháček, chairman of the renter’s association. He told idnes.cz that the association filed a complaint to the European commission against the flat’s original privatization by the mining company OKD.
