A German pension fund acquired a 15-percent share in Zeitgeist Asset Management, a developer and property manager in the Czech Republic, Germany and the CEE region. Zeitgeist invests into value-add residential assets, revitalizes them and leases the flats. It also invests in students housing through its daughter company Zeitraum. Zeitgeist’s goal is to create a sustainable portfolio of rental flats in Europe. Zeitgeist CEO Peter Noack says the company is targeting €1bn in residential investments over the next three years. The company currently manages a portfolio worth €213m, leases 207,199 sqm of space and has 405,500 sqm of development land.
