CBRE Global Investors acquires logistics portfolio in Czech Republic
CBRE Global Investors, on behalf of clients, has acquired a logistics/light industrial portfolio in Plzen, Bohemia, Western Czech Republic, from Stage Capital in an off market transaction.
The roughly 151,000 sqm portfolio consists of four standing assets built between 2007 and 2017 and development land with planning permission for one more asset. One building of about 5,000 sqm which is currently under construction will be acquired after completion in Q1 2018.
All the assets represent fully flexible, state of the art logistic/warehouse/light industrial/production facilities. The schemes are situated close to Plzen, Bohemia, Western Czech Republic, one of the most sought after logistics/light industrial markets in CEE. The region is a strategic logistics location within Europe connecting CEE with key logistics destinations in Western Europe (40 km from Germany) as well as being a strategic manufacturing hub due to low wages and highly skilled workforce.
Grzegorz Ryszka, Head of Transactions CEE, CBRE Global Investors said, “We have acquired a modern, class-A portfolio situated in an established logistics market with restricted supply of similar space. This fits perfectly with our client requirements and we were particularly pleased to have sourced this portfolio off-market where opportunities of this quality are limited.”
Robert Snincak, Head of Investment Operations CEE, CBRE Global Investors added: “This is another example of finding good value for our clients in the CEE region. With our skilled team on the ground, we are well placed to source assets in Czech Republic, Poland, Slovakia and Hungary that fit with our clients' requirements.“
CBRE Global Investors were advised by Kinstellar, EY, SGS and CBRE.