Crowdberry acquires majority stake in industrial park in Liberec for more than a billion

Real estate fund CB Property Investors from the Crowdberry group has acquired a majority stake in an industrial complex under construction in Liberec called Industrial Park Liberec. The total value of the transaction exceeded CZK 1 billion, according the the company announcement.

"The acquisition of the complex with a value of approximately CZK 1.5 billion upon completion is a big step forward for our fund," said Jan Rovný for CB Property Investors.

The transformation of the former poultry farm on the outskirts of the city, which is referred to as a brownfield site, into an industrial complex began in 2021. The owner of the site in Hellerova Street in Doubí, which had been unused for years, was Proinco, which belongs to the Industrial and Capital holding investment group.

"The original owner was looking for a strategic investor and new financing during 2022. The excellent location and signed long-term lease agreements with stable companies are one of the main factors why CB Property Investors decided to make this acquisition. In addition to CB Property Investors, a professional private investor provided the financing and together with the original owner secured financing for the project with Unicredit Bank," the fund said.

UCT Fluid Delivery Solutions, a manufacturer of plastic modules for the production of chips, microchips and sim cards, will lease more than half of the leasable space in the facility, which will now be called CBPI Park Liberec. This company already operates in two locations in Liberec, in V Horkách Street in Jan Dole and in Partyzánská Street near the airport. "For UCT, the new production facility will be the backdrop for its planned growth, the basis for further increasing the number of employees in what is and will probably continue to be one of the most dynamic industries of the future," said Martin Pavlata, director of UTC in Liberec.

UTC has plans to move production from its Liberec operations to the new facility with around 600 employees and to increase the number of employees in the future. "Other tenants - Cattron and Wassa - will also contribute to the creation of new jobs. In total, up to 1,000 people are expected to find work at the site," the fund said.

CB Property Investors said it plans to own the site for the long term. The last hall is expected to be completed this summer. In total, there will be nearly 30,000 sqm of manufacturing space and 9,000 sqm of office space in three halls.

Since its inception in 2021, the CB Property Investors fund has focused on acquiring properties that offer room for further investment. It currently manages a portfolio worth CZK 1.3 billion, which will be around CZK 1.8 billion upon completion of the industrial estate in Liberec.

Source: CB Property Investors and CTK