Type: Value Add – Platform strategy
Location: Locations throughout Czech Republic
Management of Boxberg Capital, when working for another fund, created a joint venture structure with a local Czech real estate company to acquire opportunities in the Czech regions. In a series of transactions, the JV acquired a site for residential and hotel development as well as income producing assets. The hotel development was pre-sold to an Austrian fund and later developed by the JV whilst locking in the target profit. The remainder of the portfolio, following the execution of a range of initiatives, was later profitably sold to the Czech joint venture partner.