Czech investor Reico's CS fund has announced the acquisition of the Dubnica industrial park for €39 mln.
The asset was bought from developer and investor Invest4SEE Investment Holding.
Built in 2016, Dubnica comprises 89,400 m2 of logistic and office space with an occupancy rate of 97%. Tenants include the German corporation Continental, Swiss transportation and logistics company Kuehne+Nagel, Dutch brewery group Heineken and German discounter Lidl.
JLL advised the buyer while CBRE acted for the vendor.
Peter Nitschneider, country manager and head of advisory, JLL Slovakia said: 'During the last 24 months the industrial sector has taken the lead in the Slovak investment market. Almost 45% of the volume transacted was allocated to logistic and production properties. This transaction confirms, that good-quality product with strong covenant located in growing and establisthing logistic location, is currently highly demanded and liquid.'
The CS nemovitostní fund 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 worth €800 mln.
