Zurich-based PERE investment firm M&A Property Investors has formed a roughly €20 million JV with Prague-based Monlid Development to start a residential project in the outskirts of Prague, the company said.
The project comprises 45 row-houses in Lidice, a small town 18 km northwest of Prague managed by Thomas Azavedo, a local developer. M&A CEO Marc Cottino said the investment follows its strategy of positioning itself in the niche market of mid-size deals for middle-class housing, which are expected to drive future demand for prime houses.
M&A Property Investors is a private equity real estate investment company focused on opportunistic mid-size deals throughout Europe.