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Mar 22, 2018

CBRE

ČS nemovitostní fond buys Dubnica industrial park in Slovakia

ČS nemovitostní fond, managed by REICO investiční společnost České spořitelny, a.s., buys an industrial park near Dubnica nad Vahom, Slovakia. The value of this acquisition is 38.9 million euros, as informed by CBRE real estate advisory company that represented the seller - Invest4SEE Investment Holding GmbH during the commercial transaction.

The largest tenant of the Dubnica Industrial Park, which occupies most of the leasable area, is a German company Continental, the world's leading tire manufacturer and supplier of technology solutions for the automotive industry. Other tenants of this industrial property are the Swiss transport and logistics company Kuehne + Nagel, food chain operator LIDL and the Dutch brewery Heineken.

Dubnica Park is a new logistics center built in 2016. It consists of warehouse, technical and office space with a total leasable area of ​​89.4 tsd sqm and up to 97% occupancy. The property also has 96 parking spaces for passenger cars and 32 spaces for freight cars.

Czech real estate fund bought this real estate from the development and investment company Invest4SEE Investment Holding GmbH that was represented by the Slovak branch of CBRE. "We are glad that we managed to find a significant investor for our client in form of a Czech real estate fund. Foreign investors are still seeing a great potential for appreciation of their investments in this commercial real estate segment," as said by Marián Mlynárik, Head of Investment Properties at CBRE.The seller was represented by Konečná & Zacha Law Firm, namely by Vladimír Kordoš as their legal representative.

ČS nemovitostní fond was established in 2007 and is the largest and oldest real estate fund in the Czech Republic. Nowadays, the fund owns seven properties in the Czech Republic, four in Slovakia and two in Poland. Total value of these properties is estimated in excess of EUR 800 million.