The Czech fund Arete Invest enters the Slovak real estate market with an acquisition for almost five million euros
Prague / Zilina, 28th of March 2017
Arete Invest, a fast-growing fund focused on investment in real estate, completed its first acquisition in the Slovak market in the first quarter of this year. The acquisition concerned the purchase of an industrial complex in close proximity to the KIA automotive plant in Žilina, which has been leased in its entirety to Grupo Antolin, a supplier of automotive components. The financial volume of the transaction was EUR 4.7 million.
“The Slovak real estate market seems very interesting to us in terms of investment, with a number of opportunities presenting themselves. The aim of our first strategic transaction was to test the environment of this market and its specifics so that we can go on to make much larger transactions in the future,” says Robert Ides, co-founder and member of the Management Board of Arete Invest.
The purchased complex with a leasable area of 5,000 m² has been leased in its entirety to Grupo Antolin for four years. Grupo Antolin is a major subcontractor for the KIA automotive plant, to which it supplies roof upholstery. The complex was sold by the Belgian development group ILD, from which Arete Invest has already purchased a second property. The first transaction took place in the Czech Republic and concerned an industrial complex in Uherské Hradiště at a value of EUR 7.5 million.
The aim of Arete Invest is, as is the case with its other real estate in the portfolio, to actively manage the purchased industrial complex and improve it by, for example, extending lease agreements, deepening the relationships with the tenant and improving the unoccupied land through future development.