New property fund – Mint Central Europe PF
Mint Investments (formerly CEC Capital) is launching a new closed property fund Mint Central Europe Property Fund (MiCEPF), in co-operation with the international investment group Avestus Capital Partners. Their goal is to invest in commercial property in the Visegrad Four countries (Czech Republic, Slovakia, Poland, Hungary). The fund will start its operation next year and following the funds CSIA (CSPF) and Develon (QPPH), it will be the third in a row to be launched by Mint Investments in co-operation with Avestus Capital Partners group. According to Sebastien Dejanovski, MiCEPF fund will have a seven-year investment horizon. Expected net income for investors will be at least 14 % per year. “Due to the economic crisis, the Central European property has market reached its bottom and it is now showing signs of recovery and future growth. Properties with an attractive combination of price, yield and potential for further development and investment capitalization are starting to appear on the market. In the last six months we have been approached by a number of new investors – from domestic and foreign institutions to large domestic private investors – interested in investing in quality properties generating a stable income,“ says Dejanovski. The focus of their attention are administration and retail sector properties. The fund wants to focus not only on new properties but also on property requiring restructuring, finishing of construction and reconstruction.
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