Focus Areas
Sector expertise
We concentrate on sectors where operational improvements and active asset management can generate differentiated returns.
Our sector focus is driven by market opportunity and our operational capabilities, not predetermined allocation targets. Each sector is evaluated based on current market dynamics, value creation potential, and our ability to execute operational improvements.
Investment Thesis
Structural undersupply of quality rental housing across CEE capitals, combined with demographic shifts toward urban living and delayed homeownership among younger cohorts.
Typical Acquisitions
Multi-family residential buildings, build-to-rent developments, portfolios from institutional owners or banks, and distressed residential assets requiring repositioning.
Value Creation Approach
Professionalization of property management, occupancy optimization through improved tenant screening and retention programs, cost reduction through centralized operations, and selective capital improvements.
Operational KPIs
- Occupancy rate improvement
- Rent per sqm growth
- Tenant retention rate
- Operating cost per unit reduction
- NOI margin expansion
Transaction Structures
- Asset deals for individual buildings
- Share deals for portfolio companies
- Joint ventures with developers
- Sale-leaseback structures
Key Risks & Mitigation
Rent regulation changes, interest rate sensitivity affecting tenant affordability, maintenance backlog underestimation. Mitigated through thorough legal due diligence, conservative underwriting, and detailed technical inspections.
Opportunity-led, not sector-constrained
While we maintain deep expertise in our focus sectors, our investment mandate allows us to pursue compelling opportunities outside these categories when the value creation thesis is clear and our operational capabilities are applicable.