Invest alongsidedevelopers whocommit their own capital,expertiseand reputationto every project.
Private investment platform with access
to development projects by the group
in the most attractive locations in Prague.
With an expected fund size of up to CZK 500m.
You are not just investing in development.
You are investing in the way projects are created.
Top Estates is a founder-led development company focused on exceptional projects in the most attractive locations in Prague.
From the first study to completion, we combine architecture, economics, construction and digital management into a single process.
A fund built on
proprietary development.
Top Estates Real Estate Fund SICAV is a closed-end fund for qualified investors focused on selected premium development projects prepared by the Top Estates group. Projects enter the fund at an advanced preparation stage, valued at documented cost rather than expected future value.
Investing in the fund carries risk. Past performance is not a guarantee of future results.
The investor comes first.
Partners invest alongside them.
We acquire projects and prepare them to an advanced stage. We then contribute them to the fund at documented acquisition and preparation costs — with no developer markup and no artificial inflation of their entry value.
Our money stays in the projects and our economics are directly linked to their actual outcome.
The specific rights of individual share classes, the scope of the preferred return, and its top-up mechanism are governed by the sub-fund's statute.
Smíchovská Žehlička
Every detail has a reason
Prague — Smíchov
70 apartments · 7,800 m²
Click the image to play the animation.
Access to projects you won't find on the market.
The fund gives qualified investors access to selected projects from Top Estates' internal pipeline and, at the same time, the ability to follow their actual progress.
Internal pipeline
Selected Top Estates projects that are not publicly offered.
Legally binding permit
Capital earmarked for construction is released only once the building permit becomes legally binding.
At least 20 %
Partners commit their own capital and remain economically aligned with the fund's performance.
Live data
Investors see current economics, schedule and key documents directly in Project Control.
Prisma
Light that highlights architecture
Prague — Smíchov
250 apartments · 15,500 m²
Click the image to play the animation.
Yield is created by active development.
Not just market growth.
Unique residential and mixed-use projects developed by Top Estates. The fund's primary source of return — a predictable model based on the economics of each project.
“The long-term source of return is realised exits and actual cash flow, not mere accounting revaluation.”
Every project has
its own story.
Project Stories are interactive platforms where investors follow every project from the first idea through to handover of the keys. Not as passive observers — but as full participants in the entire process.
An interactive project story · 13 chapters
PRISMA
A new iconic building in the heart of Smíchov.
From story
to live data.
Project Story explains why a project is born. Project Control shows how we actually manage it every day — schedule, economics, documentation and key decisions. Investor does not see a report created for the investor. They see selected live data directly from the same system in which the project team manages economics, schedule, documentation and key decisions.
Transparency
is not a benefit.
It is our standard.
Our investors do not wait for quarterly presentations.
They have ongoing access to up-to-date information.Every decision. Every workshop. Every milestone. Every change. We believe this openness is exactly what builds lasting trust and partnership with our investors.
Projects in preparation for the fund.
Six projects in Prague which we are preparing and which will be added to the fund once the building permit is issued.Detailed economics, capacities and timelines are available after logging in to the Investor Portal.
12 years of premium
development.
We believe premium development is not just an investment. It is the ability to create projects that define a city's quality for the long term.
Completed projects.
12 successfully delivered projects in Prague, Brno and Bratislava. Awards for Top Estates projects are not the main motivation, but they are recognition from the professional community and proof that no project is ordinary — each is carefully considered from design through to delivery.
Explore more about Top Estates' projects
topestates-story.com →Fund partners.
Demanding projects have taught us to combine development, finance, technical preparation, and execution into a single management system. A specific partner of the fund is responsible for each area.
Petr Teplý
Managing Partner
Brings 20 years of experience in residential development. Architect of the fund's structure and its principal investment strategist.
Jiří Hovorka
Partner & Head of Development
Manages the entire project lifecycle from acquisition through to final exit and handover. Brings unique opportunities through an exclusive network of key relationships and deep knowledge of the Prague market.
Filip Kašík
Partner & Technical Director
Filip leads the execution team and is responsible for the technical preparation and execution of projects through Construction Management.
Lucie Fast
Partner & Chief Financial Officer
Responsible for the financial stability of our projects and open communication with investors. Leads the finance and accounting team with meticulous attention to every detail of the investment process.
We believe exceptional projects are born when courage meets precision. Our goal is to create places that raise the quality of living and of the city itself.
A strong developer. Independent fund infrastructure.
Projects are prepared and managed by Top Estates. Fund management, administration, depositary control and audit are provided by independent institutions.
Decisive information in one place.
This website is a simplified marketing presentation of the fund. The complete investment terms, rights of individual share classes, risks, fees and the method of return calculation are set out in the current sub-fund prospectus, the articles of association and the KID of the relevant share class.
Let's arrange a personal
presentation of the fund.
We will guide you through the fund structure, upcoming projects and the investor portal. After individual assessment, we will give you access to Private Access and complete documentation.
Ing. Petr Teplý
fund founder and managing partner
Top Estates Real Estate Fund a.s.
Náměstí 14. října 17
Prague 5 – 150 00
The fund is intended exclusively for qualified investors within the meaning of Act No. 240/2013 Coll., on Management Companies and Investment Funds.
