Generali acquires logistics park in Czechia

Generali Fond Realit, an investment fund managed by Generali Investments CEE and advised by Generali Real Estate, has acquired Garbe Progresus Park Klášterec I. 

Garbe Progresus Park Klasterec

This logistics property, located in the Ústí nad Labem region (between Chomutov and Klášterec nad Ohří) of the Czech Republic, is fully leased and spans 18,500 m2. 
Its main tenant is Isolate, a German manufacturer of thermal insulation. 
The newly built modern facility was purchased from Garbe and Progresus and is equipped with the latest technologies and certified to the BREEAM Very Good standard.
Ramon Spoladore, head of CEE & Nordics region at Generali Real Estate, said: “We are pleased to add this first logistic asset in the Czech Republic to the Generali portfolio. The Czech market continues to be of strategic importance to us. The property offers strong investment potential thanks to its stable, long-term tenant. 
Marek Bečička, head of Real Assets at Generali Investments CEE, commented: „The logistics and industrial segment offers a highly compelling opportunity, providing robust rental income and strengthening the fund’s overall revenue stream. This acquisition of a modern, high-quality asset represents another strategic milestone in diversifying our portfolio and securing sustainable, long-term returns.” 
Lukáš Zrůst, co-founder of the Progresus Group, stated: “Garbe Park Klášterec I was our entry point into logistics real estate, and we recognised its significant potential from day one. The rapid full lease-up, smooth construction process and consistent performance of the project confirmed that it had been the right decision. I am especially pleased that the project attracted the interest of Generali Investments, one of Europe’s most respected investors and asset managers.”
Martin Polák, managing director at Garbe for Central and Eastern Europe, added: “For Garbe, it is key that our logistics parks continue to attract both tenants and investors over the long term. Garbe Park Klášterec I is a newly built, fully leased hall and marks our fourth completed sale in the Czech Republic and Slovakia within the last eighteen months. I am delighted that investor demand continues to confirm the attractiveness of these properties as an investment product.” 
Clifford Chance provided legal advice to Generali Real Estate, while ASB handled tax and financial advice, and Grinity performed technical due diligence. CMS represented Garbe and Progresus, with Grafton Property Partners acting as acquisition advisors and TPA offering tax and financial advisory services.