ČS Real Estate Fund bought a logistics park in Poland for CZK 1.1 billion
The real estate fund of Česká spořitelna bought the Panattoni Park Tychy DC1 logistics park in Poland for CZK 1.1 billion. The park was sold by Česká spořitelna informed about it today.
ČS nemovitostní fond, which falls under the REICO investment company of Česká spořitelna, thus increased the number of owned properties to 19 for approximately CZK 32 billion. At the same time, the purchase increased the share of the industrial sector in its portfolio to ten percent. The fund has eight properties in the Czech Republic, seven in Slovakia and four in Poland.
The park, which was completed in the first quarter of this year, is located two kilometers from the A44 road, which is connected to the A4 backbone motorway connecting the Polish cities of Krakow, Katowice and Wroclaw with Cottbus in Germany. The park includes storage space with a total leasable area of 53,900 square meters. The largest tenants are the multinational manufacturer of air conditioning units for cars Denso or and the company HAVI, which specializes in supplies to international food chains.
ČS nemovitostní fond was founded in February 2007 and is one of the oldest and largest Czech real estate funds. At the end of May 2021, more than 96,000 shareholders had invested in the fund, with a return of 2.2 percent last year and an average of about 2.8 percent a year over the past decade.