Zeitgeist Asset Management acquired a historic complex of buildings on Karoliny Světlé street in Prague 1 for a German pension fund. Zeitgeist’s portfolio of rental apartment buildings in Prague has grown to nine through this transaction. The cluster of buildings offers 4,180 sqm of rental space and is one of the most historic assets in Zeitgeist’s Prague portfolio. The property’s foundations were laid in the 14th century and the Rotunda of Saint Minor Cross, the oldest romanesque rotunda in Prague, sits next to it. Zeitgeist intends to renovate the complex to modern living standards. With a portfolio of nearly 13,500 sqm of rental space valued at close to €50m, Zeitgeist is planning further acquisitions with the aim of doubling the size of its portfolio of rental apartments in the Czech capital by the end of the year.
