Residomo is selling off the largest portfolio of Czech rental apartments, with Hospodářské noviny reporting that only potential buyers at the moment are foreign real estate funds. Located in northern Moravia, the 43,000 flats were originally sold off by the OKD mining company. “On the basis of demand from European investors for rental apartments, we began discussions with several of them in the fall,” said Stan Kubáček, director of Round Hill Capital, which owns Residomo. “Discussions are still ongoing.” HN says that no price has been agreed upon yet, thought it’s clear it will run into the tens of billions of crowns. Residomo’s annual reports puts the value of its real estate holdings at CZK 31.7bn, with revenues in 2018 of CZK 3.3bn and a CZK 1.2bn profit.
