ASB Group advised REICO on the acquisition of an industrial park Dubnica II in Slovakia

Dec. 9, 2019 Slovakia

ASB Group has successfully advised ČS nemovitostní fond which is managed by REICO investiční společnost České spořitelny, a.s. on the acquisition of an industrial park Dubnica II in Slovakia. Park Dubnica is a new logistics centre built in 2018. It consists of warehouse, technical and office space with a total lettable area of 16.6 thousand square meters, with 100% of the rentable area already occupied. The value of the new acquisition is approximately CZK 241 million (EUR 9.5 million). ASB advisory services included comprehensive financial and tax due diligence.

Park Dubnica II is a logistics centre built in 2018 and is situated in the region of Western Slovakia, which, together with the Bratislava region has 88% share of all Slovak industrial stock. It is one of the most important industrial regions in Slovakia. The Property consists of warehouse, technical and office space with a total lettable area of 16.6 thousand square meters, with 100% of the rentable area occupied.

The largest tenant of the Dubnica Industrial Park II is food chain Lidl and two subcontractors from automotive industry - AAF and LEONI. AAF specialises in manufacturing of air filtration equipment and LEONI is a supplier of energy solutions for the automotive industry.

“We appreciate that we could have assisted REICO not only in this acquisition, but also in the acquisition of the first phase of the industrial park Dubnica last year. Work on a comprehensive financial and tax due diligence of the transaction required high level of expertise as well as detailed knowledge of real estate market. We are always glad that we can take part in such success stories of our clients like this one,” said Zuzana Kolárová, Managing Director at ASB Slovakia, who led the ASB team.

ČS nemovitostní fond was established in 2007 and is the largest and oldest open-ended real estate fund on the Czech market. It is designed primarily for conservative investors and aims for long-term return in excess of government bonds yields. The fund now holds nine properties in the Czech Republic, five in Slovakia, and three in Poland.

ASB Group is a professional outsourcing provider of high-standard services in the areas of accounting, tax advisory, payroll, transaction advisory and corporate services. ASB provided support for many major transactions in the CEE region, both on the buy and the sell side, advises in the transactions´ worth EUR 1 bln. Transaction advisory professionals have advised on the real estate transactions, take overs of local companies by their competitors, and cross-border investments in local businesses. They were responsible for the financial and tax due diligence projects for most of transaction advisory clients. However, experience goes beyond the due diligence process, as often support transaction negotiations and advised clients on purchase price calculations.