I have a special relationship with the visually attractive Rezidence Norská. We acquired it for our Premium Properties Fund in October 2020 from the RSBC investment group as our very first real estate investment. The original owner auctioned the property and there were a large number of other bidders. It was evident that the corner Art Nouveau building in a quiet part of Prague 10 close to Královské Vinohrady, built at the beginning of the last century in the Art Nouveau style, was of great interest to investors.

As a good manager, it was clear to us from the beginning that the listed Art Nouveau building has a beautiful exterior on the one hand, but elevating the building’s internal parts to a high interior standard would require a relatively large investment, time and effort. To put these three ingredients into numbers: the fund’s investment in the extensive reconstruction of the entire building amounted to several hundred million Czech crowns. The preparation of the unique construction project in the city’s conservation area and obtaining a building permit took our colleagues from RSBC Real Estate almost two years. And lastly, the project successfully combined the real estate expertise and years of experience of RSBC and Fund real estate professionals, a development manager, an architectural firm and a construction developer.

I am sincerely pleased with the result of the challenging, carefully managed project. From the visualisation and gradual growth of individual housing units. There are not many buildings in Prague that can offer a similar combination of a prestigious address, comfortable new housing and views of green space.

After all, since the first child always has a certain privileged position in the family, it will be difficult for us to part with our Fund’s first investment. But I am happy that the beautifully-renovated Rezidence Norská apartment building is about to enter another chapter of its life with the new owners of luxurious residential units.

Miloš Filip, CFA
Funds Managing Director


Schönfeld & Co Nemovitosti SICAV, a.s., Premium Properties sub-fund, is a Czech property fund for ordinary investors that owns, manages and arranges the reconstruction of Rezidence Norská and was founded by entrepreneur and philanthropist Robert Schönfeld in 2020. Today, the fund provides Czech investors with appreciation of their personal and family savings in commercial, logistics and residential real estate with a market value of CZK 1.3 billion.

The property fund’s objective is to create a high-quality and stable premium portfolio of income properties. Through regular rental income and growth in the market value of real estate, the fund offers investors interesting long-term real appreciation of the funds invested. The premium property fund’s strategy is based on the tested-and-tested conservative values of the Schönfeld family with the aim of achieving an average appreciation of 5%+ per year over the long term. Investors can invest amounts from CZK 10,000 at a time in the fund.


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