Heimstaden is buying its first portfolio in Prague

The Swedish company Heimstaden, is entering the Prague rental housing market. In the Holešovice district of Prague, it bought the first 164 housing units under construction as part of the Pergamenka project from the development company FINEP.

164 fully equipped apartments, 162 parking spaces and 4 non-residential spaces will be built by FINEP for Heimstaden on a turnkey basis. The project will also have a reception, restaurant, cafe and facilities for sports and relaxation available to future tenants. Heimstaden will offer its first Prague flats for full use at the beginning of 2024. The Swedish company will pay almost CZK 1.2 billion for the Prague portfolio.

"Since joining the Czech Republic at the beginning of last year, Heimstaden has declared a great desire to continue investing here. We crossed the border of the Moravian-Silesian Region already in March this year by buying 226 flats in Pilsen. Now we have also managed the first acquisition in Prague," describes Stanislav Kubáček, head of the acquisition team for Germany and Central and Eastern Europe.

"We want to continue to be number one on the rental housing market in the Czech Republic. Not only the size of our portfolio, but also the quality and stability of the services we provide. It has been our great ambition to offer rental housing to customers in Prague from the beginning, and I am glad that we managed the first investment,” adds Jan Rafaj, CEO of Heimstaden.

The Prague acquisition is also the first joint venture between Heimstaden and FINEP.

"We are glad that we managed to agree on cooperation with the largest provider of rental housing in the Czech Republic, and one of the largest housing funds in Europe. We were able to share experiences not only from the Czech market, but also to take into account good practice from abroad, already in the project preparation phase. Thanks to this, a product optimized for rental housing was created within our location in Holešovice, while at the same time meeting high demands for sustainability during construction and subsequent operation,” says Tomáš Pardubický, CEO of FINEP.

"At FINEP, we have found a great partner for the development of our housing portfolio in the Czech Republic. We discover various possibilities for our cooperation. I firmly believe that for the benefit of other possible joint projects and the development of rental housing in Prague and the Czech Republic," adds Stanislav Kubáček. Heimstaden collaborated on the acquisition with the consulting companies Dentons (in the legal field), Deloitte (in the tax and business field) and Arcadis (in the technical field).