GARBE sold Green Park Piešťany, the new owner is Patria investiční společnost

GARBE Industrial Real Estate CEE, a specialists in logistics and industrial real estate, has completed the sale of GARBE Green Park Piešt'any in Slovakia. The nearly 28,000 sqm industrial park is an attractive acquisition due to the fact that it is fully leased, unique in Central Europe in sustainability and carbon neutral. The buyer is Patria investiční společnost, a.s., the part of ČSOB. This is its first acquisition into a share fund that is going to be opened to retail clients of ČSOB during 2025. So far, it has focused only on closed funds for qualified investors from the Private Banking and Wealth Office clients ČSOB. After the sale, GARBE will remain the property manager in Green Park. The value of the transaction was not published.

"We entered the Central and Eastern European markets four years ago. We have built several industrial parks that meet high technical requirements and sustainability certifications. Their attractiveness is underlined by the interest of tenants who appreciate the location and quality of our projects. After a three-year development cycle, it is reasonable that GARBE has reached the phase when it offers its first projects for sale to investors, not only in Slovakia, but also in the Czech Republic and Poland," says Martin Polák, Managing Director Central & Eastern Europe at GARBE Industrial Real Estate GmbH.

Nina Kozáková, Chairman of the Board of Patria investiční společnost, commented the transaction: "We are pleased that the development of GARBE Industrial Real Estate Group is the first asset in our new fund. The attractive location, excellent tenants, long lease contracts and the developer's responsible approach to sustainability and quality are in line with our investment strategy."

Green Park Piešťany – sustainability first.

GARBE Green Park Piešt'any was the company's flagship sustainability project in the CEE region. Thanks to its equipment, the park is carbon-neutral, it does not use gas for its operation, it is equipped with photovoltaic panels and water is recycled directly in the park, which is pumped from its own well. The building is equipped with heat pumps and the site retains meadows and native woodland. GARBE Green Park Piešťany is located 300 metres from the highway exit to Piešťany, 80 kilometres from Bratislava, and 110 kilometres from Žilina. This ensures easy access to other markets in CEE and beyond. A public transport bus stop is located right next to the park.

GARBE's real estate advisors on the sale of GARBE Green Park Piešt'any were Kinstellar and ASB. For Patria, Wilsons provided legal advice, TPA provided financial advice, Gleeds provided technical advice and iO Partners provided valuation.