ČS nemovitostní fond, managed by REICO IS ČS, acquires two standing assets of the PNK Park Sereď in Slovakia. The value of the new acquisition is approximately CZK 835 million (EUR 30.6 million). The fund increases its prime property portfolio to 19 assets under management and thus further improves its sectoral and geographical diversification.

Industrial Park Sereď represents two fully occupied, premium, logistics buildings, DC31 and DC32, completed in July 2018 and comprising mainly warehouse, manufacturing and office space with a total leasable area of 45,100 sq m. The largest tenant within the industrial park is the Polish clothing company LPP S.A., which operates fashion brands Reserved, Cropp, House, Mohito and Sinsay and will support its online retail business from here. The second tenant is the German company WEGU, which produces plastic components for the automotive industry.

‘The acquisition of the first two phases of the PNK Park Sereď improves regional and sectoral diversification of our property portfolio hence reduces its portfolio risk. At the same time, this investment increases the income generation potential of our fund over the long term especially thanks to a very long term commitment of quality tenancies to this premier logistics property’ says Tomáš Jandík, Chairman of the Board of Directors of REICO IS ČS.

The property is situated in an attractive location of the southwestern Slovakia region, which, together with the Bratislava region has over 80% share of Slovak industrial stock. Industrial Park Sereď has the benefit of an excellent transport accessibility from the D1 motorway and a strategic location within the economic hotspot between Bratislava, Trnava and Nitra. Both logistics buildings in Sereď Industrial Park have BREEAM environmental certification.

ČS nemovitostní fond bought this Property from the Russian development company PNK Group, which currently has 31 industrial parks in its portfolio. PNK focuses its development and investment activities mainly in the Russian Federation, however also owns logistics buildings in North America and Europe. Industrial Park Sereď was developed by PNK Group and finished in 2018. CBRE, Wilsons, ASB and OMC represented the buyer in the transaction.

‘The acquisition of PNK Park Sereď underlines our strategy to focus on modern and high quality real estate situated in excellent locations. This acquisition strengthens our share in the logistics sector, which is a highly sought after segment by many investors’ says Marcel Kolesár, transaction manager of REICO IS ČS.

The current acquisition of the two assets, along with the acquisition of both phases of Dubnica Industrial Park in the past two years, helped ČS nemovitostní fond to increase the share of the industrial premises in its portfolio to 6% while further improving its sector and regional diversification. The fund's portfolio now includes 19 properties with a total market value of almost CZK 32 billion (EUR 1.2 billion). At the end of February 2020, more than 85,000 shareholders invested in the fund. The fund delivered a return of 4.2% in 2019 and on average some 3.1% per annum over the last 10 years.

ČS nemovitostní fond was established in February 2007 and is the oldest and the largest Czech real estate mutual fund. The fund is designed primarily for conservative investors with its long term aim to deliver returns above inflation and the returns of government bonds. The fund now holds nine properties in the Czech Republic, seven in Slovakia and three in Poland.

For further information, please contact Česká Spořitelna Financial Group media relations team.