UDI Group set up a new fund for qualified investors that will enable it to invest in domestic and foreign development projects. The group will be targeting both private and institutional investors interested in backing building projects it’s prepared. The minimum deposit is CZK 1 million. Fund management is to be provided Winstor, the custodian is ČSOB and the auditor is Ernst & Young. “Conservative” investors can choose a fixed return of up to 9% (6.5 guaranteed minimum), while those with an appetite for risk can share in the profits of specific projects or portfolios.
The group secured a PLN 100 million loan (about CZK 590 million) from the Polish branch of mBank to finance further construction of the Classic Ursus residential project in Warsaw, Poland. The project’s second phase of 272 flats is already underway. The group is also building a 130,000 sqm logistics complex on the D5 motorway near Plzeň though a €48 million loan. It’s completed the shell and core of another 30,000 sqm shed and is operating a logistics facility in Ostředek thanks to a €37 million loan from ČSOB.
