REICO, investiční společnost České Spořitelny, a.s.

REICO, investiční společnost ČS, a.s. is the investment management company whooly owned by Česká Spořitelna, a.s., the largest Czech retail bank. REICO manages the ČS nemovitostní fond which is the largest and oldest Czech real estate open-ended fund with current NAV of ca. EUR 760 mil. and currently 13 investment office and retail properites.
NAME OF COMPANY REICO, investiční společnost České Spořitelny, a.s.
SECTOR/COMPANY PROFILE Real estate open-ended fund management company
NAME OF PRESIDENT OR MANAGING DIRECTOR Filip Kubricht, CEO
PRESIDENT’S OR MANAGING DIRECTOR’S PROFILE Filip Kubricht was the co-founder of REICO in 2006 and was elected the CEO in 2015.
SHORT DESCRIPTION OF THE COMPANY REICO, investiční společnost ČS, a.s. is the investment management company whooly owned by Česká Spořitelna, a.s., the largest Czech retail bank. REICO manages the ČS nemovitostní fond which is the largest and oldest Czech real estate open-ended fund with current NAV of ca. EUR 760 mil. and currently 13 investment office and retail properites.
COUNTRIES IN WHICH THE COMPANY OPERATES Czech Republic, Slovakia, Poland
DESCRIPTION OF THE ENTRY INTO THE POLISH MARKET REICO, on behalf of the CS nemovitostni fond, entered Polish market by the acquisition of Proximo I from Hines for EUR 117 million in August 2017 and the acquisition of Galeria Sloneczna from AIG/ Whitestar for EUR 164 million in September 2017.
THE ORIGINS OF THE COMPANY AND HOW IT STARTED OUT REICO was estabilshed in 2006 as a whooly owned subsidiary of Česká Spořielna, a.s., the largest Czech retail bank. Subsequently in 2007, REICO has set up the open-ended ČS nemovitostni fond which it has managed since then. Initially, REICO was acquiring on behalf of the ČS nemovitostní fond only in the Czech Republic (e.g. City Tower in 9/2016) and Slovakia (e.g. Park One in 2/2017). Since 2017 the company has an ongoing diversification program and is also looking at Polish and Hungarian real estate investments.
HOW MUCH THE COMPANY HAS INVESTED IN ENTERING THE POLISH MARKET ca. EUR 280 million in 2017.
WHAT DIFFERENTIATES THE COMPANY’S PRODUCTS/SERVICES FROM THEIR COMPETITORS? REICO retains ca. 70% market share of real estate open-ended fund business in the Czech Republic so size is the key diversifier in the Czech Republic. When compared to German open-ended fund managers, REICO is much smaller but is able to react more quickly and take a view on market trends and investment opportunities than large estabilished German property vehicles.
NOTABLE ACHIEVEMENTS TO DATE Acquisition of the Proximo I from Hines for EUR 117 million (8/2017)
Acquisition of Galeria Sloneczna from AIG/ Whitestar for EUR 164 million (9/2017)
PLANS FOR THE FUTURE / EXPANSION PLANS and information on how they have been pursued so far REICO's future plans are to continue with our 4CE diversification program and retain long term presence in Czech, Slovak, Polish and Hungarian real estate markets.
PLEASE SAY WHY YOU SHOULD BE CONSIDERED FOR THE AWARD REICO should be considered to become Newcomer of the Year as we have offloaded close to ca. 280 million in two projects exactly in times when other traditional investors, such as German open ended funds, were turning away from these submarkets due to various political and micro market risk factors. We trust that REICO is the leading core Czech investor in Poland who has proven to be able to be buying prime assets, independent of sector, at prime prices and compete with other established core investors with much longer track record.
Company website www.reico.cz
NAME OF COMPANY
REICO, investiční společnost České Spořitelny, a.s.
SECTOR/COMPANY PROFILE
Real estate open-ended fund management company
NAME OF PRESIDENT OR MANAGING DIRECTOR
Filip Kubricht, CEO
PRESIDENT’S OR MANAGING DIRECTOR’S PROFILE
Filip Kubricht was the co-founder of REICO in 2006 and was elected the CEO in 2015.
SHORT DESCRIPTION OF THE COMPANY
REICO, investiční společnost ČS, a.s. is the investment management company whooly owned by Česká Spořitelna, a.s., the largest Czech retail bank. REICO manages the ČS nemovitostní fond which is the largest and oldest Czech real estate open-ended fund with current NAV of ca. EUR 760 mil. and currently 13 investment office and retail properites.
COUNTRIES IN WHICH THE COMPANY OPERATES
Czech Republic, Slovakia, Poland
DESCRIPTION OF THE ENTRY INTO THE POLISH MARKET
REICO, on behalf of the CS nemovitostni fond, entered Polish market by the acquisition of Proximo I from Hines for EUR 117 million in August 2017 and the acquisition of Galeria Sloneczna from AIG/ Whitestar for EUR 164 million in September 2017.
THE ORIGINS OF THE COMPANY AND HOW IT STARTED OUT
REICO was estabilshed in 2006 as a whooly owned subsidiary of Česká Spořielna, a.s., the largest Czech retail bank. Subsequently in 2007, REICO has set up the open-ended ČS nemovitostni fond which it has managed since then. Initially, REICO was acquiring on behalf of the ČS nemovitostní fond only in the Czech Republic (e.g. City Tower in 9/2016) and Slovakia (e.g. Park One in 2/2017). Since 2017 the company has an ongoing diversification program and is also looking at Polish and Hungarian real estate investments.
HOW MUCH THE COMPANY HAS INVESTED IN ENTERING THE POLISH MARKET
ca. EUR 280 million in 2017.
WHAT DIFFERENTIATES THE COMPANY’S PRODUCTS/SERVICES FROM THEIR COMPETITORS?
REICO retains ca. 70% market share of real estate open-ended fund business in the Czech Republic so size is the key diversifier in the Czech Republic. When compared to German open-ended fund managers, REICO is much smaller but is able to react more quickly and take a view on market trends and investment opportunities than large estabilished German property vehicles.
NOTABLE ACHIEVEMENTS TO DATE
Acquisition of the Proximo I from Hines for EUR 117 million (8/2017)
Acquisition of Galeria Sloneczna from AIG/ Whitestar for EUR 164 million (9/2017)
PLANS FOR THE FUTURE / EXPANSION PLANS and information on how they have been pursued so far
REICO's future plans are to continue with our 4CE diversification program and retain long term presence in Czech, Slovak, Polish and Hungarian real estate markets.
PLEASE SAY WHY YOU SHOULD BE CONSIDERED FOR THE AWARD
REICO should be considered to become Newcomer of the Year as we have offloaded close to ca. 280 million in two projects exactly in times when other traditional investors, such as German open ended funds, were turning away from these submarkets due to various political and micro market risk factors. We trust that REICO is the leading core Czech investor in Poland who has proven to be able to be buying prime assets, independent of sector, at prime prices and compete with other established core investors with much longer track record.
Company website
www.reico.cz

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