GARBE buy the first logistics property in Slovakia for the UII Garbe logistics fund

by   CIJ News iDesk III
2021-09-01   12:02

Together with GARBE Industrial Real Estate, one of the leading specialists for logistics and industrial real estate in Germany and Europe, Union Investment has acquired the first logistics property for the UII Garbe logistics fund in Slovakia. The seller is the Karimpol Group, a private real estate developer that has been active in Eastern and Central Europe for over 30 years. The parties have agreed not to disclose the financial details of the transaction.

The property is located in an industrial park in the northwestern part of the city of Senec, around 25 kilometers northeast of the Slovakian capital, Bratislava. There are further logistics facilities in the immediate vicinity, most of which are used for distribution and production. The logistics property built in 2019 is therefore at an established location with good connections. The property has a total of 32,400 square meters of hall space plus around 2,200 square meters of office space. The global logistics service provider DSV is one of the main tenants. The occupancy rate of the property is 96 percent.

Janica Gerecke, Head of Investment Management Europe at GARBE Industrial Real Estate, comments: “We are delighted to have entered the Slovak market with Union Investment with this acquisition. For our partner as well as for us, this transaction is an important milestone in the pan-European expansion strategy. In addition to Slovakia, France, Italy, Poland and the Netherlands are on our buying radar for the European country markets. ”GARBE has had regional expertise with its own branch in Bratislava since last year. Martin Polak, Managing Director of GARBE CEE, adds: "We are pleased that we were able to successfully secure this investment for the joint UII Garbe logistics fund in a competitive environment with our local expertise."

Dr. Edik Plätzer, managing partner of the Karimpol Group, adds: “With our Bratislava Logistics Park in Senec we have been able to build a total of 150,000 square meters of the most modern logistics space for major tenants north of Bratislava. We are particularly pleased to have won further major international investors with long-term interests in the region for one of our properties in Union Investment and Garbe Industrial Real Estate. For our Karimpol Group, this is another milestone in our successful project development strategy in the CEE region."