The real estate fund manage Investika has amassed an investor base of more than 25,000 in its two real estate funds, Investika realitni fond (a retail fund) and Dynamika (a fund for qualified investors). Its leadership says that with the amount it’s collecting each month growing, the size of the assets it’s looking for has grown from €10m – €12m just 18 months ago to €100m. The company is amassing a cash base at the moment as it has a conservative overall LTV of around 20 percent, having acquire 17 buildings. Launched just three years ago, the fund targets a 5 percent return for its retail fund and somewhat higher for Dynamika. In an interview with Hospodářské noviny its chairman Petr Čížek says it turns down nine in ten opportunities that it considers seriously. He says the fund is aimed at investors looking for a conservative return that produces a more reliable return than the majority of bonds. “We always tried to create a portfolio made up of projects that would work in better and in worse times.” He says that while most of the portfolio is centered around Prague, they are looking at the entire country for new acquisitions. “Prague’s role is rising in our portfolio. But we’re still a very locally oriented fund. Who else besides a Czech fund is going to buy properties in the regions. Still, the current financial capacity is greater than the local offer. With the exception of Brno and its surroundings, we’re represented in almost all the regions.” He says the fund tends to complete around six acquisitions per year and that he hopes to expand the portfolio by three new properties by the middle of the year.
