Arcona Property Fund N.V.

The management of this NYSE Euronext Amsterdam-listed closed end property fund was taken over by Arcona Capital in February 2012. A three stage stabilisation and recovery plan was then launched. Between 2012 and 2014 operating costs and vacancy rates were sharply reduced. Between 2014 and 2016 the debt finance was completely restructured. Since 2016 the Fund has been growing fast, increasing its allocations to the retail sector and expanding into Poland. A dedicated website was launched in January 2017.

https://www.arconapropertyfund.nl/

 

Lighthouse Mandate

In February 2016 Arcona Capital completed the acquisition of a portfolio of eight Albert-anchored hypermarket centres and four associated retail parks in the Czech Republic for Lighthouse, one of our seven managed investment entities. The vendor was Atrium European Real Estate and the purchase price was in the region of € 100m to show an 8.2% initial yield. The properties are in Prague and seven other Czech cities. Albert generates 82% of the annual rent on Ahold corporate backed leases with a 9.5-year weighted average lease term. Other tenants include Sportissimo, KIK, dm drogerie, Takko and Deichmann. These acquisitions add substantially to the Lighthouse portfolio, which also includes the B&O production facility south of Ostrava, CZ, acquired through a sale and leaseback in 2014.

Yellow Properties

Yellow Properties is an 84-unit residential project branded "Drahobejlova Residence" in Prague’s vibrant 9th district. Arcona Capital was responsible for the project’s development management and sale, which was a joint venture between two of our managed funds (MEOF II and the Arcona Property Fund). Construction commenced in November 2012 and practical completion took place in October 2014, with all units now sold. Construction finance was arranged through Raiffeisen Bank CZ and construction was undertaken by BauStav of Karlovy Vary.

Hostín Development

"Bydlení Úvaly" is a large suburban residential development on a site of approx. 35,000 m2 site in Úvaly, on the eastern borders of the city of Prague, owned by Hostín Development s.r.o. Arcona Capital is responsible for the project’s development management and sales. The development is divided in to several phases. The construction of the first phase which comprises 22 apartments commenced in February 2015 and practical completion took place in November 2016. Construction finance was arranged through Unicredit Bank CZ and construction was undertaken by BauStav of Karlovy Vary. Subsequent phases of the development are now under way with the same partners. For more info please see following link.

http://www.bydleniuvaly.cz/

Portfolio Management Germany

In January 2017 Arcona Capital was appointed by international clients to provide management, supervision and control for a substantial mixed-use real estate portfolio in central Berlin. Currently comprising 8 prime assets, a major development project and a yet to be developed site, the portfolio has over 60 tenants and an estimated value in excess of Euro 300 000 000.