Fio investiční společnost announced the second acquisition to its Fio realitní fond. The real estate fund buys, from developer GARBE, the industrial park GARBE Park Chomutov. The value of the transaction is €33 million.
“The purchase of this recently completed production and warehouse asset in Chomutov with a first-class tenant adds another premium property to our real estate fund portfolio, confirming our ambition to build a unique and sector-attractive real estate portfolio to achieve stable long-term yields. We are thus already able to offer our current and future investors the investment product suitable for transferring funds from deposit accounts or other low-interest alternatives in an environment of currently falling interest rates,” says Václav Kubáček, Investment Director at Fio realitní fond.
Fio realitní podfond I. (real estate fond) was founded in December 2022 as part of the extension of the Fio investiční společnost (investment company), alongside „Fio globální akciový fond“ (Global Equity Fund) and „Fio fond domácího trhu“ (Domestic Market Fund). In May 2023, the fund announced its first acquisition, the Rohan Business Centre office building in Karlín, Prague, and now acquired GARBE Park Chomutov, with a total area of ca. 29,600 sqm, to its real estate portfolio. The industrial park has a high material standard and a building energy performance certificate (PENB) at level A. The park is in an established industrial zone near the main train station in Chomutov. It is also easily accessible from the D7 motorway and thus has excellent connections to the German border and via the Podkrušnohorská magistrála (I/13 road) to the D8 and D6 motorways. Very close to the premises, there is a trolleybus line connecting it with Chomutov.
“I am pleased that our real estate fund has settled into the offer of our Fio funds and continues to grow. I believe that thanks to the second property, which is different in type from the first one, an office building, it will become even more attractive for clients. We carefully choose properties for our real estate fund and thanks to this fact, our fund can be interesting for clients with its diversified composition,” adds Jan Bláha, Chief Commercial Officer at Fio Banka.
“Brownfield in Chomutov was our first strategic location in Central Europe in 2021, in which we decided to invest speculatively. The attractiveness of the site was immediately confirmed, and the premises were fully occupied by the Fielmann Group AG, a renowned German company primarily engaged in the production of dioptric glasses and is also listed on the German stock exchange XETRA. This is the second successful sale for GARBE in Central and Eastern Europe in the last two months. After a three-year development cycle, we are now at the phase where we are offering our first projects for sale to investors, not only in the Czech Republic but also in Slovakia and Poland,” says Martin Polak, Managing Director of Central & Eastern Europe at GARBE Industrial Real Estate GmbH.
GARBE’s transaction advisors on the sale of GARBE Park Chomutov were HAVEL & PARTNERS and ASB Group. Fio realitní fond was advised by Wilsons, TPA, OM Consulting and Cushman & Wakefield.
