Martin Slabbert and Victor Semionov, the two founders of New Europe Property Investments (NEPI) have set up a new real estate investment company, Prime Kapital, company representatives officially announced this Tuesday. By mid-March they had raised EUR 260 million which they say they are looking to invest in retail, office, industrial and residential projects in Central and Eastern Europe.
“Over the past 9 years we have managed to successfully build a large-scale investment and real estate developmet business with a focus on the retail segment. However, there are considerable opportunities across the real estate spectrum. This is why we have decided to pursue this through a new structure: a privately held company managed by a strong team of partners,” said Slabbert.
On the medium term Prime Kapital targets investments worth EUR 500 million although it says it is not under pressure to invest in a given time frame.
Slabbert and Semionov stepped down from the NEPI’s management board last summer and since then there have been rumors about the two starting new a company. Slabbert set up NEPI after having previously been a partner with Deloitte Central Europe between 2005 and 2006. NEPI had a portfolio of 34 properties at the end of 2015 with an estimated fair value of EUR 1.8 billion, according to company data. Most of the properties are located in Romania.
Simona Bazavan