Generali Real Estate has made its first move into Czech logistics, acquiring the 18,500-sqm GARBE Progresus Park Klášterec I, a facility located in the Ústí nad Labem region. The deal, completed through the Generali Fond Realit investment fund, marks another data point in what continues to be selective but steady institutional appetite for quality industrial assets.
The property sits between Chomutov and Klášterec nad Ohří, and is fully leased to ISOLATE, a German manufacturer of technical thermal insulation.
“The logistics and industrial segment offer a highly compelling opportunity, providing robust rental income and strengthening the fund’s overall revenue stream,” notes Marek Bečička, Head of Real Assets at Generali Investments CEE.
“GARBE Park Klášterec I was our entry point into logistics real estate. We recognized its significant potential from day one,” says Lukáš Zrůst, Co-Founder of Progresus Group.
While transaction volumes have contracted sharply from their 2021-2022 peaks, best-in-class assets with solid fundamentals continue to trade. Whether this deal signals renewed momentum for Czech logistics remains to be seen.
“For GARBE, it’s key that our logistics parks continue to attract both tenants and investors over the long term,” says Garbe’s CEE MD Martin Polak. “GARBE Park Klášterec I is a newly built, fully leased hall and marks our fourth completed sale in the Czech Republic and Slovakia within the last eighteen months.”
Legal advisory for Generali Real Estate was provided by Clifford Chance, with tax and financial advisory by ASB and technical due diligence by Grinity. GARBE and Progresus were represented by the law firm CMS, Grafton Property Partners participated as acquisition advisory and TPA providing tax and financial advisory services.
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