CBRE will manage an industrial portfolio for Cromwell with a leasable area of ​​125,000 sqm

by   CIJ News iDesk III
2021-03-31   11:30

CBRE has been mandated to manage a complete industrial portfolio owned by the Cromwell European Real Estate Trust (CEREIT) in the Czech Republic and Slovakia. Together, these are 11 industrial and logistics properties with a total leasable area of ​​125,000 sqm, which the fund recently bought together with other land for new construction from the domestic investment group ARETE. The buildings are almost 100% occupied and the tenants include the sea and air carrier CTE Cargo Sped, Fiege, which provides reverse logistics for the Zalando fashion brand, the C&A clothing chain, the Danish manufacturing company Steelcon or Raben, one of the five largest logistics service providers.

"All logistics and industrial properties from the CEREIT portfolio are located in strategic locations - whether it is a park in Lovosice, Písek, Uherské Hradiště and Vyškov or in Nové Mesto nad Váhom in Slovakia. Our comprehensive services will include the management of these properties and their further enhancement. Among other things, we will soon start the process of certification of these buildings according to BREEAM In-use standards, which will assess their quality and environmental friendliness, "comments Helena Hnízdilová, Head of Real Estate Management for Industrial Sector at CBRE. 100% leased, however, in the future we will participate in the future development of the portfolio, because the acquisition also included another 140 thousand sqm of land intended for further construction with a dominant development in Slovakia. "

The Cromwell European Real Estate Trust owns a total of 107 properties across Europe. With the recent acquisition of the Czech-Slovak ARETE portfolio, which included 11 logistics and industrial properties in the Czech Republic and Slovakia, it has strengthened its position as a major player in Central Europe as well. The trade took place at the end of last year for almost three billion crowns.

Simon Garing, CEO of CEREIT, says: “We are pleased to have completed the acquisition of the portfolio, despite the ongoing pandemic across Europe. We are currently focusing on increasing our share of investments in the logistics and light industry sectors, and this acquisition is moving us to 38%. Importantly, CEREIT now also operates in two attractive, fast-growing markets. ”

David Svoboda, Cromwell's Director of Asset Management for the Czech Republic and Slovakia, adds: “We have been operating in the wider Central and Eastern European region for ten years and currently successfully manage € 1 billion in gross assets for a number of different capital partners. We will now focus on the smooth handover from Arete, welcoming new tenants and their customers to the Cromwell family, and ensuring that, in cooperation with CBRE, they receive the excellent services that tenants have traditionally been accustomed to. ”