Arete widens its real estate portfolio in Uherské Hradiště and Košice, with investments reaching almost EUR 20 million
Prague / Uherske Hradiste, 24th of March
The investment and real estate group, Arete, incorporating real estate investment funds, announced today continuing enlargement of its portfolio. After acquiring land in an industrial zone lying just outside Košice, Slovakia, Arete has begun construction involving investment of EUR 13 million of a specialised production hall covering an area of 12,000 m2 for a leading European steel chimney manufacturer. Arete is also significantly enlarging the existing Forschner production hall in Uherské Hradiště, investment into this project being in the region of EUR 7 million.
“After a quantity of acquisitions of functioning, profitable industrial properties that we have made over the past few years, we decided to take on our own development projects. Our pioneer project was construction of a huge warehouse on our own premises in Nové Mesto nad Vahom, which was completed last summer. Together with our current construction project, this demonstrates that we are capable of widening our portfolio, which allows us to significantly increase value for our investors,” explained Lubor Svoboda, co-founder of the Arete investment and real estate group.
New Premises in Košice
In November, the Arete group completed acquisition of land in the Veľká Ida industrial zone which lies within easy access to Košice in Slovakia. This zone, which even offers the opportunity of receiving government support, has for some time been the focus of interest of foreign manufacturing companies. Arete group is now building a specialised production hall for Steelcon Slovakia, part of the Danish group, Dominion Steelcon, which specialises in the manufacture of steel chimneys.
This highly specialised project involving two halls with investments totalling EUR 13 million is proof of just how attractive the Slovak investment market is. Completion is planned for the second half of this year.
Production hall extension in Uherské Hradiště
Intensive work has been underway since last year on an extension to the existing Forschner production hall and logistics park in Uherské Hradiště. The new hall extension should be finished in April. An important aspect of the construction work is the creation of modern, clean production spaces suitable for manufacturing components for electric cars while meeting the highest international standards, with a constant temperature and humidity. Of course, rainwater infiltration and heat recuperation considerations are also addressed in the construction works. Modern office space and hygiene facilities for staff are integral to the new hall.
Class A industrial premises in Uherské Hradiště with excellent road access to Slovakia and South Moravia has been in the Arete portfolio for four years now and it is 100% leased out to Forschner, which has grown from a German family firm into a multi-national corporation. Its focus lies on electric vehicles, production of cable and electromechanical systems and other components intended mainly for the automotive industry. Its clients include Audi, Continental, Daimler, Volkswagen, Philips and Bosch.
About the Arete Group:
The investment and real estate group Arete was established in 2014 and focuses on investment in real estate. The first Arete Invest sub-fund, which focused on residential properties, completed its investment cycle in 2017, with a gross total appreciation of 120%. The second Arete Invest sub-fund, investing in industrial properties, has been operating since 2016, with a gross total appreciation of more than 90%. In 2020 a third fund has been opened for investors: Arete Industrial. The goal of this new fund is not simply investment in ready-built industrial properties, but also to construct them. The funds are intended exclusively for qualified investors, both natural and legal persons, whose activities are subject to inspection and supervision by the Czech National Bank. For more information, go to www.arete.eu.
Find out more by phoning:
Ondřej Micka, mobile: +420 724 352 552
Martina Chromečková, mobile: +420 774 135 551
Tel: + 420 251 091 211