Zdeněk Cendra buys Vinohrady buildings for Prague rentals

Zdeněk Cendra, the 16th richest Czech and founder of the tech company CDN77, is entering the real estate market under the Keepers brand: the new firm is buying historic apartment buildings in central Prague, mainly in Vinohrady, and renting them out long term after renovation.

Vinohrady is a matter of the heart for Cendra: the CDN77 office is here, and in recent years he has been investing money in the district. On Sobotecká Street he initiated and funded the transformation of a playground into one of the most popular in Prague, and on Hradešínská Street he renovated two First Republic villas and opened a café and event space, Vila 63, in them.

Now Keepers is taking on the district in earnest. Its portfolio already includes five buildings: four in Vinohrady and one on Dietrichova Street in Nové Město. In total they are to hold 130 premium rental apartments. Cendra himself does not hide that investing outside the wider center does not interest him, even if it might be more profitable from a purely business point of view. The real estate portfolio is valued at several billion crowns, and new projects worth single-digit billions are to be added gradually.

Keepers head Riva Karo, who manages the portfolio, says the company offers “a slightly new concept”: honest renovation and a feeling of home from day one. Tenants are promised services such as dog walking and cleaning, smart-home control through an app, and technical help seven days a week — “almost hotel comfort.”

The first building to be ready is the 1909 house at Mánesova 64: renovation is being completed, pre-leasing starts early next year, and move-ins begin in May. A restaurant by chef Petr Bartoš will open in the building. The building at Na Švihance 2 is due to be ready in June, and the 1880 building at Londýnská 20 in September. The projects at Dietrichova 25 and Belgická 3 are still in preparation.

This is not short-term rental: leases in all projects are signed for at least twelve months.

By the Around Prague newsroom