Name of company
Zeitgeist Asset Management
Name of President or Managing Director for CEE region
Peter Noack, Sebastian Junghaenel
President or Managing Director for CEE profile
Co-founders of the company, worked in institutional real estate in Germany, Central Eastern Europe and Turkey. P. Noack: registered as licensed attorney (Goethe University, Frankfurt). S. Junghaenel: registered as licensed architect (Technical University Berlin and University of Arts, Berlin).
Description of the company and team
Founded in Prague in 2014, develops and manages real estate assets for private and institutional investors. The sectors in which it operates are residential (with over 700 apartments under management), student residences (managed over 1,000 beds) and offices, as well as urban development and energy solutions. The company manages 46 real estate projects for a total area of over 200 thousand square meters land plots and has assets under management for a value of over EUR 800 million.
Regions active in
It is present in five countries (Czech Republic, Germany, Poland, Hungary and Italy) where it operates through its offices in Prague, Berlin, Warsaw and Milan.
Portfolio of all properties currently held by company (in EUR)
200 000 sqm Land Plots
46 Projects
AuM by Function: 41% Residential, 31% Land development, 13% Student housing, 10% Office, 5% Hotel.
BRANDS:
- HOME by Zeitgeist: 15 residences in Prague, ca. 500 apartments, 4 residences in Gdansk, ca. 200 apartments.
- ZEITRAUM Student Housing: 4 residences in Prague, 253 rooms, 382 beds; 1 residence in Krakow, 157 rooms, 345 beds; 1 residence in Warsaw, 154 rooms, 222 beds.
- ZEITRAUM Apartments: 2 residences in Prague.
Office buildings: 2 in CZ and 2 in PL.
Value of the projects currently held by company (in EUR)
300 mil EUR Equity invested, 800 mil EUR Asset under Management (AuM)
Properties sold between October 2020 and June 2022
The key project was finalizing and staring of a rental phase of a newly developed estate branded „Górskiego" Home by Zeitgeist in Gdańsk Oliwa. The 5-storey buildings contain 204 units, two- or three-room, with areas of 35-68 m2. One entire building has already been rented out to SoftServe company.
Value of the properties sold between October 2020 and June 2022
Size of the properties sold between October 2020 and June 2022
The largest purchase transactions between October 2020 and June 2022
Acquisition of land in Krakow - 0,84 ha at Racławicka Street 48. Agreement in the forward purchase form: in cooperation with a local developer, Activ Investment, ZEITGEIST will create a building, including 182 serviced apartments (6222 sqm) rented for a short period of time, partly also intended for accommodation of students (248 rooms, 4650 sqm). The project is scheduled for completion in Q3, 2024, and will be handed over to ZEITRAUM, a daughter company, which will be the operator.
Future pland
Zeitgeist Asset Management constantly seeks to acquire properties and new investors and optimizes its portfolio. With its daughter-company ZEITSTROM, the company is focusing on:
- instalment of electric-car-chargers in the portfolio, combined with battery and solar technology,
- evaluating new certifications, like WELL,
- introducing new technologies, like f.e. humidity measures, and tap-water cleaning,
- evaluating new construction technologies, esp. wooden pre-fabricated modular construction
Company website
zeitgeist.re, home.re, students.zeitraum.re, apartments.zeitraum.re
