3Things: REICO buys, Nanovo sells and GDP underwhelms

The REICO managed fund ČS nemovitostní fond has acquired Panattoni Park Tychy DC1 in Poland for roughly €42 million, bringing the number of real estate assets in its portfolio to 10. The 54,000 sqm industrial park, located 2 km from the A44, was completed in Q1 2021 and is fully leased. The vendors were BH Investment Property XIV, Panattoni Europe and Bluehouse Capital. REICO was represented by CMS, TPA, Arcadis and by Cushman & Wakefield. “The Polish logistics market is undergoing enormous growth,” says Tomáš Jandík, Board Chairman at REICO Investiční společnost. “Expanding into this attractive market. He said the acquisition matched the company’s strategy of diversifying its portfolio both geographically and in terms of sectors.

The Polish e-shop for shoes Eobuwie.pl has replaced made its debut on the Czech market by replacing Datart in the Nový Smíchov shopping center in Prague 5. But the company has done so in partnership with fashion retailer Modivo by opening a futuristic-looking store in which customers order products to try on in changing rooms by using tablets. The technology behind this system was developed by Nanovo, whose founder Piotr Badowski said the new store was its first installation outside Poland. A Nanovo-powered Modivo store opened in Warsaw last year, he said, and has enjoyed huge success. “We believe strongly in connecting online and offline channels that strengthen each other and create an excellent synergetic effect,” said Mikołaj Wezdecki, a member of the board at Eobuwie.pl, speaking with CzechCrunch.cz.

In any other year, a 7.8% jump in Q2 GDP would have been labelled an economic miracle for the Czech Republic. In 2021, however, it’s not very impressive since it’s comparing current economic activity to last year when the country shut down for business under the lockdown and the borders closed. GDP rose just 0.6% compared to Q1 2021. Most restrictions have been lifted at this point, but pandemic-era caution remains in many sectors. Unexpected systemic issues have also arisen, connected with the broken global supply chain network. Škoda Auto for example usually closes for two weeks during the summer to give employees some time off, and to allow factory maintenance to be carried out. The company is closing for an extra week this summer, however, because of the ongoing lack of computer chips and other components.


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