Macquarie has made its Central and Eastern European (CEE) logistics debut through a portfolio deal in the Czech Republic and Slovakia.

An investment vehicle advised by Macquarie Infrastructure and Real Assets (MIRA) is paying €79m for the logistics and light industrial properties.

HB Reavis Group and the HB Reavis CE REIF fund are selling the assets, developed by HB Reavis, jointly.

Steven Sewell, executive director and head of real estate for the EMEA at MIRA, said: “Our current focus is on niche real estate sectors, where we see good relative value.

“The logistics sector in CEE is showing strong fundamentals and remains one of the most interesting property sub-markets in Europe.”

Sewell cited the growing importance of the Czech Republic and Slovakia as “key European logistics markets”.

“These assets were available at an attractive price level,” he said. 

M7 Real Estate has been appointed asset manager for the portfolio.

Richard Croft, the firm’s chief executive, said: “We continue to identify a number of compelling light industrial and logistics investment opportunities across CEE whose yields are attractive compared with those available in many Western European markets, but with similar profiles.”

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