Properties worth €412m were transacted on the Slovak capital market in 2015. “The number of deals outperformed last year level and we feel very positive about the investment climate in 2016,” says Miroslav Barnáš, Managing Director and Head of Capital Markets at JLL Slovakia.
CTP acquired DNV Industrial Park from Aviva´s LogAxes, SachsenFonds and J&T Real Estate and a portfolio of three assets, consisting of logistics and industrial premises in Trnava and Nitra along with the Westend Tower offices in Bratislava. Immofinanz sold its industrial portfolio, including LogCenter in Nové Mesto nad Váhom, to Logicor, an industrial platform owned by Blackstone. Another deal was TPG’s purchase of the 26,000 sqm office scheme Lakeside Park through its acquisition of TriGranit. In addition, HB Reavis sold Forum Business Center (occupied by T-com in Bratislava) to Reico IS CS.
In terms of retail, Tulip Center in Martin was sold by Pramerica to a Luxembourgh entity and a 30,000 sqm major shopping mall in the regional city of Trencin, was acquired by the Mint Investments group. Finally, the Kempinski High Tatras and Crown Plaza hotel in Bratislava were sold by Best Hotel Properties to Redside fund managed by Arca Capital. JLL writes that yields are at 7 percent for offices, 6.50 percent for retail and 8 percent for industrial and logistics space.
