Meinl Bank
enter
Menü anzeigen
Meinl Bank
back

Investment

Julius Meinl Prime Homes

Julius Meinl Prime Homes develops residential and hospitality projects in capital cities of Europe

STATUS

The company started its activities in the “golden city” of Prague which still offerssignificant potential. Following success there, Julius Meinl Prime Homes expanded its activities to Vienna and is preparing the market entrance in Poland

HISTORY

Julius Meinl Prime Homes (Prague Prime Homes) enables partners and clients to (co)- invest as equity or bond investors inselected real estate projects in capital cities in Europe


Primary focus is on unreconstructed neoclassical residential properties in city centres.These are renovated and then exited


A secondary focus is on hotel projects, for which there is continued strong operator andinvestor demand. JM Prime Homes turns large city centre buildings intostate of the art luxury hotels

GRAND HOTEL EUROPA

In January 2016, Julius Meinl Prime Homes agreed the purchase of the “Grand Hotel Evropa”,one of the most prestigious hotels in Prague, as new project. The transaction was completed in May 2016.


The Grand Hotel Evropa is a landmark historic building facing Wenceslas Square. Its unique interior has appeared in many international movies such as "Mission Impossible“. The hotel is now closed and the project foresees the reconstruction of the historic hotel part and the development of a new yard wing. The goal is to restore the hotel’s original glory


The project attracted the interest of many international hotel Operators and in July 2016 zhe Company concluded agreements with “W” By Starwood under which “W” By Starwood will become the operator of the hotel with the target to become “THE” hotel in the city centre of Prague


All relevant permits related to the reconstruction are in place, albeit they will need to be amended according to the requirements of “W”

Construction is scheduled for completion in 2019, following which thehotel will be around 14,000m2 and will offer around 150 luxury rooms, modern spa and leisure facilities, restaurants and bars as well as conferencing facilities


The exit from the project for investors is planned by a sale after completion.The investment period will therefore be 3 - 31⁄2 years. The expected continued upwardtrend in Prague’s hospitality sector and resulting high demand for such properties shouldprovide good exit conditions


Total investment volume – equity, subordinated bonds and bank loans – is around €61 million