Arete adds two production buildings to its property portfolio
The real estate investment group Arete has expanded its second industrial real estate fund to more than 125,000 sqm with the completion of a 12,000 sqm production hall for the steel chimney specialist Steelcon. The occupation permit for the €13 million investment located in Kosice, Slovakia, is now in place. Arete also completed a €7 million investment at its industrial park in Uherske Hradiste involving the expansion of an existing production facility used by its client Forschner. The building now measures than 12,000 sqm, including a 1,000 sqm clean space where specialized production takes place. "We managed to deal with complications caused by the coronavirus pandemic which caused interruptions in construction work and the delivery of materials," said Lubov Svoboda, co-founder of the Arete group. "We still managed to prepare the spaces for our tenants sooner than they expected."