The investment fund Generali Fond Realit, managed by Generali Investments CEE, advised by Generali Real Estate, has completed the acquisition of the GARBE Progresus Park Klášterec I logistics asset, located in the Ústí nad Labem region between Chomutov and Klášterec nad Ohří. The transaction covers a fully leased property with a total area of 18,500 sqm, with ISOLATE, a German manufacturer of technical and high-temperature thermal insulation, as its anchor tenant. The sellers of the asset are GARBE and Progresus. This transaction is a clear signal that high-quality logistics properties continue to hold a strong position in the market.
“We are pleased to add this first logistic asset in the Czech Republic to the Generali portfolio. The Czech market continues to be of strategic importance to us,” says Ramon Spoladore, Head of CEE & Nordics region at Generali Real Estate. “The property offers strong investment potential thanks to its stable, long-term tenant. In addition, it is a newly built, modern facility equipped with the latest technologies and certified to the BREEAM Very Good standard,” adds Jaroslav Chalupka, Head of Transactions CEE and Nordics at Generali Real Estate.
„The logistics and industrial segment offers a highly compelling opportunity, providing robust rental income and strengthening the fund’s overall revenue stream. This acquisition of a modern, high-quality asset represents another strategic milestone in diversifying our portfolio and securing sustainable, long-term returns,” comments Marek Bečička, Head of Real Assets at Generali Investments CEE.
Lukáš Zrůst, Co-Founder of the Progresus Group, notes: “GARBE Park Klášterec I was our entry point into logistics real estate, and we recognised its significant potential from day one. The rapid full lease-up, smooth construction process and consistent performance of the project confirmed that it had been the right decision. I am especially pleased that the project attracted the interest of Generali Investments, one of Europe’s most respected investors and asset managers.”
“The partnership between GARBE and Progresus consistently delivers assets that stand the test of competition and time. We greatly appreciate this transaction with Generali Fond Realit, a renowned investment fund with a strong European footprint not only in the logistics segment but also across other real estate sectors,” emphasises Lukáš Zrůst.
“For GARBE, it is key that our logistics parks continue to attract both tenants and investors over the long term. GARBE Park Klášterec I is a newly built, fully leased hall and marks our fourth completed sale in the Czech Republic and Slovakia within the last eighteen months. I am delighted that investor demand continues to confirm the attractiveness of these properties as an investment product,” says Martin Polák, Managing Director at GARBE for Central and Eastern Europe.
Legal advisory for Generali Real Estate was provided by Clifford Chance, with tax and financial advisory by ASB and technical due diligence by Grinity. GARBE and Progresus were represented by the law firm CMS, Grafton Property Partners participated as acquisition advisory, and TPA provided tax and financial advisory services.
