The fund management company REDSIDE has successfully closed the largest industrial transaction of this year in Slovakia. The prime investment opportunity drove exceptionally strong interest among a number of institutional investors and asset managers. The purchaser, REDSIDE investicni spolecnost, a.s., manages assets worth over EUR 500 mln in five funds. With this acquisition REDSIDE enters the Slovak industrial real estate market. The value of the transaction is close to EUR 90 mln. The park was developed in 2010 and currently leased to a portfolio of premium automotive and electronics tenant base.
Rudolf Vrestal, CFO and Chairman of the Board at Redside: „After an extremely successful built-up of Subfund I within NOVA Real Estate Fund structure, managed by our company, Trencin is our first acquisition on the Slovak market. For Redside, this is also a first step in the creation of a new Subfund II, focused on CEE industrial and logistics properties. We are pleased to become an owner of such a unique and technologically advanced property as Trencin Industrial Park. This is a great flagship property of our new industrial subfund portfolio.”
„Currently, the existing Subfund I provides the investors with a chance to participate in a well-established and stable investment vehicle with EUR 250 mln of AUM, distributed equally between grade “A” office buildings in Prague and regional retail shops in the Czech Republic, generating over 6 % p.a. net returns to its investors. The structure of the subfund allows for business-sector as well as geographic diversification, with long-term secured rental inflow in mind. Building on these fundaments, we launched a new subfund, focused on yet another business sector, so as to broaden the palette of investment products we want to offer to our investors.” adds Tomas Berka, Real Estate Fund Manager at Redside.
Zuzana Kolarova, Managing Director at ASB Slovakia (part of ASB Group): „We are happy to assist investment company REDSIDE in this unique transaction as financial and tax advisor. Considering the size and the importance of a deal, the project has required not only high level of technical expertise during due diligence or deep knowledge of real estate market, but also dedication of our team and passion for what we do.”
Trencin Industrial Park offers 120,000 sq m of prime industrial premises. Sitting on the D1 highway in Western Slovakia, the European hub of automotive production, the park is well cross-connected via European highway network. Western Slovakia, which has gained a flattering reputation of being the production and manufacturing hub of CEE, brings 6 car producers within 150 km radius (Kia, Hyundai, PSA Peugeot Citroen, Volkswagen, Jaguar Land Rover, Audi) and intensive network of suppliers thanks to tens of 1st tier and hundreds of 2nd and 3rd tier producers and approximately 250 industrial/logistics prime tenants located across the region and high number of stand-alone owner occupiers.