CBRE acted as an advisor to Patria Investiční společnost in the acquisition of a portfolio of two retail parks for the newly established Patria Logistics and Retail Fund from the Czech development group KPD. The two assets are the Ovčáry Retail Park in Kolín with a retail area of 8,950 sqm and tenants such as Lidl, Sinsay, Teta, Pepco, Tedi and Deichmann, and the Mohelnice Retail Park with an area of approximately 2,750 sqm and long-term tenants, which are Mountfield and Jysk.
During the pandemic, retail parks proved to be extremely resilient and achieved good economic results. After a thorough analysis of several available opportunities on the market, Patria finally decided to invest in newly built retail parks promising an attractive return on investment.
“We are pleased to have been able to support Patria in expanding their existing portfolio. In particular, there has been great interest in these assets on the market, so I am personally very pleased that Patria has managed to acquire the assets. This is the fourth transaction that CBRE has closed this year, the market is very active and there is strong investor demand for quality assets. We expect this year’s investment volume to reach around €2 billion, which is comparable to 2014. The reason why the market does not aspire to the level of €3 billion, to which we were accustomed from 2015 to last year, is the lack of large transactions in the market, which would have a chance to more significantly affect the annual volume of investments,” says Katarína Brydone, Head of Investment at CBRE.
“We are pleased to have been able to realize this acquisition opportunity in cooperation with CBRE. With this purchase, we have expanded our current residential and office portfolio with a retail segment,” said Nina Kozáková, Member of the Board of Directors of Patria Investiční společnost.
“The interest of clients in investing in the new fund was extraordinary. The fund has become an ideal solution for qualified investors who are interested in real estate investments and at the same time target higher returns than they are used to with financial assets, ”added Tomáš Pribiš, Member of the Board of Directors of Patria Investiční společnost.