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    Szymon Mikolajczak Introduced as Vice President of Omida Solutions

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Home News Deals Acquisition

Finep Sells Prague’s Novy Opatov G1 Residential Project to Reico CS Nemovitistni

David Stuckey by David Stuckey
September 18, 2024
Reading Time:1 min read
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Finep Sells Prague’s Novy Opatov G1 Residential Project to Reico CS Nemovitistni
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Czech developer Finep has sold the Novy Opatov G1 residential rental project to Reico CS Nemovitistni.

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The Prague office of the Clifford Chance law firm, which advised Finep on the transaction, describes its client as “a leading real estate developer, boast[ing] a 30-year history as a market influencer in the Czech real estate market.” The firm reports that, “over the years, [Finep] has delivered over 15,000 residential units and 200 houses. Finep remains committed to diverse housing options, including personal ownership, cooperative ownership, and rental solutions, emphasizing affordability.”

Also according to Clifford Chance, “RCSN, the largest and oldest real estate fund in the Czech Republic, has a robust portfolio of 20 properties across the Czech Republic, Slovakia, and Poland, valued at nearly 38 billion CZK. At the end of August 2024, over 120,000 shareholders had invested in the RCSN fund, and the fund’s yield over the last 12 months was 5.1%.” The firm reports that “this landmark deal marks RCSN’s first venture into the residential real estate market, diversifying its portfolio, which has traditionally focused on commercial properties.”

Construction on Novy Opatov is expected to begin this month, and once completed, the complex will feature 170 rental apartments. It is expected to open in early 2027.

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David Stuckey

David Stuckey

A founder and former Executive Editor of CEE Legal Matters Kft., now writing for CEE Real Estate Matters. A professional writer, editor, publisher, consultant, and entrepreneur, and an amateur tennis player, cinephile, and bon vivant.

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CEE Real Estate Matters

CEE Real Estate Matters is an online and eZine format publication dedicated to the fast-moving real estate markets in Central and Eastern Europe. Our diligent team of journalists works tirelessly to bring about news and analysis in five key areas: residential, office, retail, logistics and proptech. We guide real estate professionals through the complexities of these sectors, from stand-out development projects and deals, to financing, legislation and big executive moves.


Our mission is, simply, to be the go-to source of information about real estate markets in Central and Eastern Europe.

Recent Posts

  • Szymon Mikolajczak Introduced as Vice President of Omida Solutions
  • Supeco Discount Supermarket Signs Lease at FunShop Park in Ploiesti
  • BIG Poland Acquires OTO Park Koszalin
  • Ibersol Acquires Former Quality Trend Hotel Zoo in Vienna
  • CPI Europe Sells Vienna Marriott Hotel to Evientro and Landfair European Dislocated Opportunities
  • White Star Real Estate Reports One Million Square Meters of GLA in Poland
  • GTC Group Releases 2024 ESG Report

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