CBRE Global Investors has acquired an industrial portfolio in Plzen through an off-market transaction with Stage Capital on behalf of clients. The roughly 151,000 sqm portfolio consists of four existing assets built between 2007 and 2017 along with additional development land with planning permission for another shed. A 5,000 sqm building currently under construction, due for completion in Q1 2018, was also part of the deal.
All the assets represent fully flexible logistics, light industrial and production facilities located close to Plzen in western Czech Republic. The location is highly sought after due to its proximity to the German border and to highly skilled, cheaper labor.
Grzegorz Ryszka, Head of Transactions CEE, CBRE Global Investors said: “We have acquired a modern, class-A portfolio situated in an established logistics market with restricted supply of similar space. This fits perfectly with our client’s requirements and we were particularly pleased to have sourced this portfolio off-market where opportunities of this quality are limited.”
Robert Snincak, Head of Investment Operations CEE, CBRE Global Investors added: “This is another example of finding good value for our clients in the CEE region. With our skilled team on the ground, we are well-placed to source assets in Czech Republic, Poland, Slovakia and Hungary that fit with our clients’ requirements.” CBRE Global Investors were advised by Kinstellar, EY, SGS and CBRE.
