Croatian real estate company Primo Real Estate has purchased Slovenian peer Ferba Projekt from its Swiss parent company Ferba for €24.5 mln.
With this acquisition, Primo Real Estate's third, the company enters the Slovenian commercial real estate market.
Ferba Projekt owns industrial and warehousing properties in Kamnik, near Ljubljana. The deal boosts Primo's portfolio to 67,000 m2 and its total assets to €75 mln.
Primo Real Estate already manages a logistics and distribution centre in Sveta Helena, near Zagreb, and several office buildings in Zagreb and Sesvete, on the outskirts of Zagreb.
Primo plans further acquisitions in Slovenia, focusing on office, logistics, and industrial properties with long-term leases, leveraging market similarities between Slovenia and Croatia.
The transaction is subject to regulatory approval.
Primo Real Estate, a Zagreb Stock Exchange-listed company wholly owned by AZ pension funds, focuses on real estate acquisition, rental, and management. The company's assets totalled approximately €51 mln at the end of 2023. The company had €5.7 mln in operating income last year with a net profit of €2.2 mln.
