ARETE Group and Cromwell European REIT signed a purchase agreement under which Arete Invest CCII sells its overall portfolio for €113.2 million ($133.3 million).
The portfolio comprises 11 logistics and light industrial properties in the Czech Republic and Slovakia with almost 100 percent occupancy rate leased to 17, mainly international, tenants.
Its overall leasable area of 125,000 square meters (410,000 square feet), with an additional 140,000 square meters (459,000 square feet) for further development and future growth, puts this transaction at second largest in the Czech Republic, representing almost 25 percent of the overall industrial investment transaction volume concluded in the Czech Republic in 2020 to date.
“This step represents a significant milestone in our fund strategy and proves that our defined target in 2016, to build and compile a portfolio of quality logistics and light industrial assets throughout a five-year investment cycle, is now de
