An investment vehicle advised by Macquarie Infrastructure and Real Assets has completed the purchase of a €79m portfolio of logistics and light industrial assets in the Czech Republic and Slovakia.
The portfolio is spread across four locations with a focus on the Bratislava area and other gateway cities, and was developed by HB Reavis.
It was being jointly sold by HB Reavis Group and HB Reavis CE REIF fund.
M7 Real Estate has been appointed as asset manager. The JLL Capital Markets teams in Bratislava and Prague advised on the acquisition.
Steven Sewell, executive director, head of real estate – EMEA, MIRA, said: “Our current focus is on niche real estate sectors where we see good relative value.
“The logistics sector in CEE is showing strong fundamentals and remains one of the most interesting property submarkets in Europe. There is a growing importance of the Czech Republic and Slovakia as key European logistics markets and these assets were available at an attractive price level.”
The transaction also includes a development component which allows for the expansions of the adjacent sites, and MIRA and M7 said they have identified a number of asset management initiatives across the portfolio.
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