REICO LONG LEASE, an open-ended mutual real estate fund managed by REICO investiční společnost Erste Asset Management, a.s., has successfully acquired a newly built, top-tier logistics property in Senec, Slovakia. The value of the transaction amounts to approximately CZK 1.625 billion (€65 million). This marks the fifth property added to the fund’s portfolio.
The modern logistics facility, with a gross leasable area of about 69,600 sqm, boasts a strong ESG profile, including an outstanding green certification, a roof prepared for solar panels, infrastructure for charging electric vehicles and energy-efficient systems such as heat pumps that neutralize the building’s CO2 footprint. These features position the property at the very forefront of sustainability in its asset class.
The logistics park serves as the Slovak headquarters and a key regional hub for DSV, a global leader in third-party logistics services. Located in one of Slovakia’s most sought-after logistics submarkets, it provides excellent connectivity to major European markets, ensuring seamless regional and international distribution.
The property was acquired through a sale and leaseback transaction, securing a long-term commitment from the vendor to the location while providing the fund with a robust, stable and secure income stream.
“This asset fits perfectly into the investment strategy of the REICO LONG LEASE fund in every aspect – not only in terms of its core location, institutional volume and absolute prime quality but also environmental sustainability and, most importantly, the length of the lease, the income security and the financial covenant of the tenant. The logistics park is fully leased to DSV, a global market leader in the 3PL sector, on a long-term basis. I am pleased that we have acquired this property into our portfolio and believe this is an excellent opportunity for our unitholders to enhance the value of their investments,” said Jiří Horák, CIO and Vice-Chairman of the Board of REICO IS EAM.
“Since opening the RLL fund for redemptions last year, we have successfully embarked on acquisitions, delivering on the promises made to our distribution network – bankers from Česká Spořitelna and the unitholders. This marks the fund’s first property acquisition in Slovakia, further expanding our geographical diversification. This transaction will significantly boost the fund’s performance, as the return on this investment is considerably higher than the previous yields from the cash position. However, we are still at the beginning of our ‘acquisition wave’ and will soon be finalizing additional transactions,” said Dušan Sýkora, Chairman of the Board of REICO IS EAM.
The REICO LONG LEASE fund acquired the property from the DSV. The buyer was represented by Wilsons, ASB Slovakia, Cushman & Wakefield and Grinity.
The transaction was facilitated by iO Partners, which represented the seller in bringing the opportunity to market and navigating the sale process, with legal representation provided by Kinstellar.
“This transaction represents the largest sale-and-leaseback in Slovakia since 2018, clearly demonstrating the strong investor demand for high-quality logistics assets in the region. The DSV logistics hub in Senec stands out with its exceptional technical quality and sustainability credentials, making it a truly outstanding property,” says Robert Cesnak, Director, Capital Markets at iO Partners.
