The CB Property Investors fund is successfully wrapping up another investment cycle. The modern logistics and manufacturing complex, CBPI Park Liberec, is being sold together with co-investor Idoneus Investment j. s. a. to the ERSTE Realitná Renta fund, managed by Erste Asset Management. This is ERSTE Realitná Renta’s first real estate investment in the Czech Republic. For CB Property Investors, the deal marks a successful close to the investment period, during which their real estate team transformed an under-construction brownfield into a modern, fully leased, and stabilized asset.

CBPI Park Liberec consists of three modern A-class buildings with a total leasable area of 38,300 m². The park is fully leased and has received BREEAM Excellent certification, which confirms its high standard in sustainability and modern technical features.

From a partly built brownfield to a stabilized site

CB Property Investors joined the project in 2022 as a strategic partner, at a time when the site needed additional funding and completion. On the site of the former poultry plant, a modern production and logistics park gradually emerged, which the fund continued to develop, lease out, and adapt to tenants’ needs.

CBPI Park Liberec is a perfect example of the investment approach the fund has been building its strategy on from the start. It doesn’t just rely on increasing value of the whole property market, but looks for projects where its real estate team can actively boost value – for example through developing, modernizing, expanding rentable space, or working closely with tenants.

“When we entered CBPI Park Liberec in 2022, the project still had significant untapped potential. Since then, our team has completed and developed the park, secured long-term occupancy and brought it to a fully stabilised institutional standard. An important part of the process was our ability to deliver a high-quality asset tailored to the specific operational needs of UCT while meeting the expectations of long-term institutional investors. I would also like to thank our tenants, UCT and Cattron, for their trust and cooperation throughout the development of the park,” said Jan Rovný, Investment Director CB Property Investors.

Long-term tenant from the semiconductor industry

The key tenant of the complex is UCT Fluid Delivery Solutions, which is part of the Ultra Clean Holdings group traded on the Nasdaq. The company is one of the global suppliers of critical systems and components for the semiconductor industry.

UCT has been operating in the CBPI Park Liberec since 2023 and is gradually expanding its facilities in the area. Since July 2025, it has been using nearly 36,000 m² of production and office space.

The complex is located in the established Liberec-South industrial zone with good connections to Prague, Germany, and Poland via the D35 highway. The combination of a strategic location, long-term lease, and the property’s technical quality has created a stable asset suitable for a long-term institutional owner.

ERSTE Real Estate Rent enters the Czech market

For the buyer, the acquisition of CBPI Park Liberec represents their first real estate investment in the Czech Republic and another step in building a diversified portfolio of quality commercial properties in Central Europe.

“CBPI Park Liberec is a high-quality logistics and manufacturing asset with strong sustainability credentials, an attractive tenant mix and long-term income visibility. The acquisition further enhances the diversification of the fund and marks another important step in building a resilient portfolio of institutional-grade commercial real estate assets across Central Europe,” added Michael Rausch, Head of Transaction Management CEE at ERSTE Immobilien KAG.

“Entering the Czech market is a significant milestone for ERSTE Realitná Renta and a natural step in the fund’s growth. CBPI Park Liberec is exactly the type of opportunity we are looking for — a high-quality, fully leased asset that fits our strategy and strengthens portfolio diversification. With this transaction, we are bringing our investors diversification not only by asset class, but also by geography. While entering a new market is always a challenge, we are confident in our ability to succeed thanks to the strong Erste Asset Management platform and its established presence across the CEE region,” said Jaroslav Pilát, Head of Real Asset Management at Erste Asset Management, Slovakia.

Second successful exit and continuation of the strategy in CBPI 2

For CB Property Investors, this is already the second successful exit in 2026. In June, the fund, together with investors from the Crowdberry platform, completed the sale of the Dobré časy post-care facility in Ivančice to the Ambeat Care fund. In this case too, the fund got involved in the project while it was still under construction and actively saw it through to completion and the start of operations, all the way to the eventual sale to a strategic investor.

“We are delighted to hand over CBPI Park Liberec to Erste Asset Management, an experienced and reputable long-term investor that recognises the quality of the asset, the relationships built around it and its importance for the further growth of its tenants and the region. This transaction is another important proof point for the strategy we have pursued since the launch of CB Property Investors, demonstrating our ability to create value throughout the investment cycle and realise it through a successful exit. We also see this as the beginning of a strong relationship with Erste Asset Management and look forward to opportunities to work together again in the future” said Peter Bečár, partner CB Property Investors.

CBPI 2 builds on the strategy of the first fund by investing across real estate segments in projects with potential for active value growth. In August 2026, it made its first acquisition: together with BHS Real Estate Fund SICAV, it bought the Eastgate Park logistics and office complex in Prague. The fund is currently open to qualified investors.

About CB Property Investors

CB Property Investors is a group of real estate funds for qualified investors within the Crowdberry investment group. Its funds are managed by Winstor investiční společnost and the platform currently comprises two funds — CBPI and CBPI 2.

The group follows an active value-creation strategy, investing across different real estate segments in projects where its experienced team can increase value through development, completion, modernisation, operational improvements or expansion. The first CB Property Investors fund has delivered an average annual return of approximately 17% since inception.

Building on the strong track record of the first fund, CBPI 2 applies the same investment approach to a new portfolio of projects and is currently open to qualified investors.

About the Erste Realitná Renta Fund and the Management Company:

ERSTE Realitná Renta, a real estate fund of Erste Asset Management GmbH, was established in 2019 and focuses on investments in high-quality commercial properties in attractive locations that take environmental criteria into account. For clients, it represents a complementary long-term investment alongside traditional asset classes, as property values do not directly correlate with the performance of other financial instruments such as equities or bonds. It may also help preserve long-term value during periods of elevated inflation.

Erste Asset Management GmbH, Slovak Republic Branch, is part of the strong Erste Group financial group and ranks among the largest asset management companies in the Slovak market. It currently manages more than EUR 3 billion and offers its clients fund management and investment portfolio management products and services. Mutual funds managed by Erste Asset Management are available to investors through Slovenská sporiteľňa´s branch network as well as via the George online platform. By combining traditional and digital distribution channels, clients can conveniently manage their investments according to their individual preferences.

CB Property Investors Subfund 2 (CBPI 2), the successor to what has so far been the best-performing real estate fund on the Czech market, has completed its first acquisition. Together with BHS Real Estate Fund SICAV, a real estate fund offered by BH Securities a.s., CBPI 2 has acquired Eastgate Park, a logistics and office complex in Prague’s Štěrboholy district. The transaction was completed just two months after CBPI 2 opened for investors. The fund is building on its predecessor’s successful track record, pursuing a strategy centred on a diversified real estate portfolio and active value creation. Eastgate Park was sold by global real estate investment firm Hines.

Eastgate Park is a fully let urban business park combining logistics, warehousing, offices, and showrooms offering approximately 39,000 sq m of leasable space. Its location offers excellent access to Prague’s motorway network, while the city center can be reached within a 30-minute drive. Eastgate Park is home to more than twenty companies operating across a diverse range of sectors.

“We have long viewed industrial real estate, especially urban logistics as a resilient asset class in which our team’s experience enables us to create significant additional value. Following our investment in a 40,000 sq m industrial complex in Liberec in 2022, we are pleased to expand our activities into the Prague region. Eastgate Park combines strong value-creation potential with the flexibility to serve a diverse tenant base. I am also pleased by the interest of our partners, BH Securities and ČSOB, in working with us on the acquisition of this asset,” said Peter Bečár, Partner at CB Property Investors.

In addition to strengthening relationships with tenants, the fund plans to gradually , adapt the premises to tenants’ needs and, where appropriate, expand the available space. The aim is to build on the strengths of the existing industrial complex and further enhance its positioning as a modern business park for both existing and prospective tenants across a broad range of sectors.

“The acquisition fits our strategy of building a diversified portfolio across multiple real estate segments, thereby enabling Czech and Slovak investors to participate in value creation in their local property markets,” added Peter Bečár.

“Participating in the acquisition of the Eastgate Park complex is part of the long-term direction of our fund, which focuses on commercial properties in the Czech Republic and Slovakia with potential for further development and value growth. The Prague real estate segment is one of the key areas we concentrate on within the BHS Real Estate Fund as well,” added Petr Šrámek, managing director of the real estate companies of co-investor BHS Real Estate Fund SICAV. This acquisition quickly follows the sale of the Oregon House office building in Prague’s Zličín, which was the fund’s first acquisition ever and also one of the model business cases that the fund wants to implement as part of its investment strategy.

“The fact that we were able to close the acquisition two months after launching CBPI 2 is no coincidence. We deliberately waited to launch the fund until we were confident that we had a sufficiently strong pipeline of potential investments. Eastgate Park is only the first step; several other attractive investment opportunities are already in our pipeline,” said Jan Rovný, Investment Director at CB Property Investors.

Prague has long been one of the most attractive markets for industrial and logistics real estate in Europe. According to the Industrial Research Forum and Savills, the vacancy rate for industrial and warehouse space in Greater Prague stood at 3% at the end of the second quarter of 2026. This compared with a nationwide average of 5.8%, while vacancy rates were significantly higher in some regions. Prague also commands some of the highest rents: urban logistics space ranges from EUR 8.25 to EUR 10.00 per sq m per month, compared with EUR 5.50 to EUR 6.60 outside Prague. Net demand for warehouse and logistics space increased by 40% year on year, driven primarily by manufacturing companies consolidating operations or relocating production to areas with better access to skilled labour.

About CBPI 2

The newly launched CB Property Investors Subfund 2 (CBPI 2) builds on the successful track record of its predecessor, CBPI. CBPI 2 is a fund for qualified investors and, like its predecessor, focuses on real estate investments with value-creation potential across a range of segments, ranging from logistics and residential development to retail parks and projects with a broader social impact, including healthcare and social care facilities. CBPI 2 targets return of over 10% per annum. The fund is part of the Crowdberry group and is managed by Winstor. CBPI 2 is currently open to new investors.

About CB Property Investors

CB Property Investors is a group of real estate funds for qualified investors that forms part of the Crowdberry group. Its funds are managed by investment company Winstor. It currently comprises two funds—CBPI and CBPI 2.
The group’s strategy is based on active value creation: its real estate team identifies properties with appreciation potential and actively unlocks that potential by modernising or expanding existing assets, developing new or completing unfinished projects.
The group has already demonstrated the effectiveness of this strategy through its first fund, which has delivered an average annual return of approximately 17% since inception. Within the fund portfolio, the team completed a logistics facility in Liberec, developed a residential complex, and this year, successfully sold Dobré časy—a senior care facility comprising a long-term inpatient care unit and senior housing—to a strategic investor Ambeat Group.

About BH Securities

BH Securities a.s. is a licensed securities dealer and a member of the Prague Stock Exchange. The company was founded in 1993 and is part of the PROXY – FINANCE, a.s. holding. It is one of the most important domestic non-banking financial entities. Thanks to its many years of operation, the company has gained extensive experience, customer trust, and established a strong position in the Czech capital market. The company provides comprehensive services in the capital market for both institutional investors and individuals. Its main activities include trading securities on its own or clients’ accounts domestically and abroad, as well as managing customer portfolios (asset management).

BHS Real Estate Fund SICAV is established under Czech law as a fund for qualified investors. The main underlying asset consists of investments in commercial real estate, primarily office and logistics/industrial buildings in the Czech Republic and Slovakia. Some of the fund’s biggest achievements in its history include acquisitions and sales of office buildings in the Czech Republic. This year and last, the fund completed investment processes for the office projects Hambuk Business Center and Oregon House. In both cases, the fund, through active project management, was able to fully lease the office spaces that were vacant at the time of purchase. The projects were gradually brought to perfect technical condition, and strategic long-term investors were found for them.

The real estate fund CB Property Investors, together with private investors from the Crowdberry investment platform, has successfully completed the sale of the Dobré časy facility in Ivančice near Brno. The buyer is the real estate fund Ambeat Care, a joint project of the investment group Ambeat Group of Ivo Foltýn and the insurance company Simplea from the Partners financial group. For investors in the CB Property Investors fund, the transaction is consistent with the above-average returns delivered across the fund as a whole.

CB Property Investors, together with investors from the Crowdberry platform, entered the project during the construction phase and accompanied it through its launch into operation in 2023 to its current form. The Dobré časy facility, with 168 beds, is a significant provider of healthcare and social care in the South Moravian Region, focusing on persons aged 55 and over — typically seniors — and comprises a long-term inpatient care unit and a specialist residential care unit.

“Dobré časy is a perfect example of what we do at CB Property Investors — building a project from the ground up and handing it over at the moment it is ready for the next stage of development in the hands of a strategic partner. For us, this is the natural conclusion of an investment cycle. The value of the asset has grown significantly since our initial investment, and we are pleased that the facility is passing into the hands of a group with both the capacity and the ambition to continue building the best senior care network in the Czech Republic,” said Jan Rovný, Head of Investments at CB Property Investors.

“The Dobré časy facility in Ivančice was, from the very beginning, an investment with a clear social dimension. The facility was developed as a response to a specific and pressing social need — to provide dignified care for seniors in a region that had long experienced a shortage of quality inpatient capacity. Projects like this one, where we can deliver value appreciation, attractive returns for our investors, and a meaningful social impact, represent the most purposeful way we know how to invest,” added Michael Almásy, Director of the Crowdberry investment platform. The return on the investment for Crowdberry platform investors exceeded the expected threshold of 15% per annum.

The sale was completed without external advisors. The sellers are private investors from the Crowdberry investment platform and the real estate fund CB Property Investors, who held the facility through the company CB Senior Ivančice s.r.o. The acquiring fund, Ambeat Care, already holds in its portfolio a hospital in Podbořany, a specialist residential care home in Trnová near Plzeň, and a specialist residential care home in Nové Strašecí, which is currently being renovated — making Ivančice its fourth acquisition of this type. The transaction price was not disclosed by either party.

“The acquisition of the long-term care facility in Ivančice is another step on our path towards our goal — building the largest network of long-term care facilities in the Czech Republic,” said Martin Švec, CEO of Simplea insurance company, part of the Partners group. According to him, the collaboration between the insurance company and Ambeat Group has created “a unique combination of long-term care insurance with the option of placement in facilities operated by the Ambeat Group.”

According to estimates by the Czech Statistical Office, the number of seniors will grow from today’s 2.1 million to 3.1 million by 2050, with the number of people over 80 nearly doubling. The growing number of seniors also means a growing need for care — today, more than 360,000 people in the Czech Republic require assistance with everyday activities, a figure that could reach up to 600,000 by 2050. One in seven seniors will be dependent on care.

About CB Property Investors

CB Property Investors is a qualified investor fund belonging to the Crowdberry group and managed by the investment company Winstor. The fund focuses on investments in real estate with value appreciation potential across various segments — from logistics and residential development to projects with a social dimension, such as healthcare and social care facilities. The fund has long been among the best-performing real estate funds in the Czech Republic.

About Crowdberry

The regulated investment platform Crowdberry has been active in the market since 2015 and provides investment services to more than 16,000 private investors. It enables them to co-own Czech and Slovak companies or provide companies with capital in the form of loans. Crowdberry’s mission is to support direct local investing and deliver returns of between 8% and 20% per annum for investors. Since 2024, Slovenská spořitelna from the Erste group has held a minority stake in the platform. Crowdberry currently manages more than CZK 2.7 billion in Czech and Slovak companies and real estate.

About Simplea

Simplea is a purely Czech insurance company, founded in 2019 from scratch according to the vision of a Czech team unconstrained by corporate mandates. It created a unique life insurance product combining smart technology with common sense. It is the only insurer on the market to guarantee its clients a 99% claims settlement rate. It does not insure trivial risks and focuses on what matters most. Simplea is currently trusted by more than 130,000 clients. Simplea is part of the Partners financial group, which also includes the financial advisory company Partners, Partners investiční společnost, the real estate fund Trigea, the pension company Rentea, and the publishing house NextPage Media, operating the websites Peníze.cz, Finmag.cz and Heroine.cz. The group recently launched its first advisory Partners Bank.

About Ambeat Group

The Ambeat Group of Ivo Foltýn is one of the leading providers of healthcare and social care for seniors, and is now taking over the operation of its 18th facility in the Czech Republic. Operations are managed by its subsidiary AHC, which brings together facilities providing long-term inpatient care beds, social care beds (care homes for seniors and specialist residential care homes) and rehabilitation care. Ambeat Group also develops new capacity independently through its company Ambeat Development, with approximately one thousand additional beds currently in preparation or under construction. The group also operates 45 home healthcare branches under the Sestricka.cz brand, employing 650 nurses across almost the entire country. Their software platform for home care management, e-sestřička.cz, serves the entire market and significantly simplifies the work of nurses in home and social care. Ambeat Group was founded by Ivo Foltýn in 2009, following 16 years of work for the PPF group.

About Ambeat Care

Ambeat Care is a real estate fund focused on the acquisition and operation of long-term care facilities. It was established as a joint project of Simplea insurance company and Ambeat Group of entrepreneur Ivo Foltýn. The fund’s goal is to build a network of modern facilities that combine high-quality healthcare with dignified conditions for patients across the Czech Republic.

At CB Property Investors, we have opted for a multi-asset approach, i.e. investing in multiple asset classes. Our portfolio includes a logistics park, residential development and senior housing. Our goal is to have a diversified portfolio because each of these sectors has different cyclicality. This investment strategy reduces risk for investors while increasing the flexibility of the fund.

“In 2022, we had residential projects in the pipeline, but when interest rates shot up, we practically abandoned this segment and focused heavily on logistics. From today’s perspective, this proved to be the right decision, as can be seen from the fund’s performance.” says Jan Rovný.

Czech real estate funds recorded a record inflow of capital in 2025. Domestic capital is becoming increasingly prominent. Jan Rovný sees the reasons for this as follows: “While foreign investors view the market from afar and often only through the lens of general geopolitical risks, Czech investors know this market very well. That is why they perceive the risks much more soberly than investors from the US or the UK. In addition, it must be said that real estate prices in Czechia are no longer low. They often do not differ significantly from those in Germany or Western Europe, which is another reason why foreign capital is not rushing into Czechia.”

You can read the entire interview with Jan Rovný on the Týdeník Echo website: https://tydenik.echo24.cz/clanek/-Hqtyp

The architectural design of the apartment buildings was created by the Archidee studio from Jablonec nad Nisou. “We were inspired by the proven concept of a villa complex, such as the one located on the shores of Lake Geneva. The main goal was to prevent the creation of a new housing estate.” explains Ing. Arch. Ondřej Novosad.

While Rezidence Park Vesec will offer future residents comfortable facilities with underground garages, photovoltaics, and underfloor heating, it will bring stability and above-standard returns to investors. The project is part of the portfolio of CB Property Investors, which has long been the best-performing Czech real estate fund for qualified investors.

Michal Navrátil, asset & development manager of the CB Property Investors fund, adds: “We were genuinely delighted to receive the public award in the Real Estate Project of the Year 2025 competition. It’s great to see that people appreciate the quality of Rezidence Park Vesec and see it as a place where they really want to live. For us, it confirms that this is not just another anonymous development project, but a place with soul, where people will enjoy living and where there will be space for a vibrant neighborhood community.”

Rezidence Park Vesec currently has the last few apartments available. You can find an overview of these on the project website.

The TOP real estate funds ranking is compiled by Hospodářské noviny in cooperation with the Institute for Strategic Investment. Based on data as of 30. 9. 2025, published in December, shows that we have once again significantly outperformed the market average. Moreover, this success is not a short-term phenomenon, as data for the three-year period shows.

Transaction activity was high in the third quarter of the year, although current market developments favor domestic capital. “When we communicate with foreign investors, it is true that they are not very keen to invest in Czechia at the moment. On the one hand, they feel that real estate here is relatively expensive, and on the other hand, they are afraid of the war in Ukraine. For American investors, for example, Czechia is already in the war zone.” says Jan Rovný, investment director at CB Property Investors, adding that this actually creates greater opportunities for Czech capital.

A complete analysis of real estate funds for the third quarter of 2025 can be found on the Hospodářské noviny website.

If you are also interested in above-standard appreciation of your financial resources, arrange a private consultation with our team.