Arete Invest completed its first acquisition in Slovakia. The Czech property investment fund purchased the industrial area leased to the Grupo Antolin, which supplies the KIA automotive factory in Žilina. Arete paid the Belgian developer ILD €4.7m for the 5,000 sqm property, which has a four-year lease contract. Robert Ides, co-founder of Arete, says the fund will look for further and larger opportunities in Slovakia. This is the second property Arete acquired from ILD, following its purchase of an industrial area in Uherské Hradiště in the Czech Republic for €7.5m.
