Slate Asset Management disposes of three OBI stores in Slovakia

Savills has advised Slate Asset Management (“Slate”), a global investor and manager focused on essential real estate and infrastructure assets, on the disposal of a three-asset OBI retail store portfolio in Slovakia. The buyer is the Lindner Group from Germany. The parties have agreed not to disclose the price or further details about the transaction.

The three properties are located in Košice, Nitra, and Martin and have a combined lettable area of almost 30,000 sqm. OBI is one of Europe and Slovaia’s leading DIY chains and is part of the Tengelmann group of companies, headquartered in Germany.

Fraser Watson, Head of Investment at Savills Czech Republic & Slovakia, says: “Savills works with Slate closely in other jurisdictions and it has been a pleasure to extend our track record with this important client into new territories. The portfolio was re-geared by Slate during their ownership period, fulfilling their asset management business plan, and culminating in a successful divestment which we have been delighted to have been a part of. Congratulations to both parties in concluding this deal.”