IAD Investments' Prvý realitný fund has launched a move into the Croatian logistics market by acquiring a 9.7-hectare plot of land in Sveta Helena near Zagreb.
The operation, conducted via its real estate company Logis Rugvica, marks the Slovakian mutual real estate fund's debut in the Croatian market and paves the way for a major logistics development.
The site is earmarked for constructing a logistics centre spanning 45,000 m2 of rentable space.
The project will proceed under a joint venture partnership with Promat Investments, which facilitated the investment opportunity and will manage both the project and development aspects through its Croatian subsidiary, Promat Projekti.
Tomáš Trebula, transaction manager of IAD Investments, said: ‘We see Croatia as the next target market for Prvý realitný fond due to Croatia’s recent entry into the EU monetary union. The logistics market in this country is severely undersized, with great potential to catch up with other countries in the Central European region, which opens the door to new opportunities.’
Mário Mátaš, managing director of Promat Investments, added: ‘We perceive this project as the beginning of an investment cycle, the goal of which is to build a significant position in the dynamically developing logistics segment in the territory of Southeastern Europe.’
Financial, tax, technical, and environmental consultations have been provided by BDO Svjetovanje, Sentient, and Šooš Maceljski, Mandic, Stanic i Partneri, odvjetnicko društvo.
Slovak management company IAD Investments manages over €2.1 bn in assets, mainly in Slovakia, the Czech Republic, Hungary, and Poland. It is part of the investment group Pro Partners Holding, which operates mainly in the private equity, real estate, and finance sectors in Central and Eastern Europe.
