Friday, June 5, 2020
Home News Warehousing, logistics and industrial Two first facilities in PNK Park Sered sold

Two first facilities in PNK Park Sered sold

PNK group, an international industrial real estate developer, successfully concluded the sale of two its modern industrial buildings with a total area of 45,000 sqm in own industrial park near Bratislava.

Facilities in PNK Park Sered’, providing a regional base for Polish fast-fashion conglomerate LPP and German-based manufacturer in automotive industry Wegu, were acquired by the REICO IS ČS on behalf of ČS nemovitostní fond, for EUR 306 million.

“Facilities in PNK Park Sered’ stand out as investment product by perfectly fitting into investment portfolios of many investors active in the CEE region. The combination of long leases, strong covenants and a major focus on LPP’s regional distribution warehouse for online sales secured strong competition among institutional bidders,” said Rudolf Nemec, Head of Capital Markets at JLL Slovakia, which facilitated the transaction.

“We are continuing to develop our PNK Park Sered’. The third facility with a total area of 43,165 sqm will be ready in summer. We have observed increasing interest in our industrial park from new tenants. And in our plans to construct three more facilities with a total area of 183,546 sqm which are suitable to be used as warehouses, distribution centers, and for light industrial purposes as well,” said Azamat Yerzhanov, Partner of PNK group Europe.

For the past year, investors have been trying to avoid acquiring schemes solely dependent on the automotive sector and rather preferred assets with tenants operating in logistics and online retail business. PNK Park Sered stands out with its balanced tenant base, outstanding technical quality and is set to be expanded further in the upcoming years by additional leasable area of 227 thousand sqm. Modern industrial and logistic complex is located in the well-established logistics & industrial hub on R1 highway in Western Slovakia next to the Amazon return center and Lidl distribution warehouse.

“The acquisition of PNK Park in Sereď improves regional and sectoral diversification of our property portfolio hence reduces its portfolio risk. At the same time, this investment increases the income generation potential of our fund over the long term especially thanks to a very long term commitment of quality tenancies to this premier logistics property,” said Tomáš Jandík, Chairman of the Board of Directors of REICO IS ČS.

“This transaction underlines the complexity of provided services. Thanks to the flexibility and creativity of advisory teams and dedication of both buyer and seller, the transaction was closed even in this difficult situation with a lot of restrictions and limitations,” said Peter Nitschneider, Country Manager and Head of Advisory JLL Slovakia.

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