As if daring anyone else to buy anything in Czech-and-now-Slovakia, CPI has revealed that it’s purchased the Lozorno logistics park outside Bratislava that’s occupied by the likes of Johnson Controls, Inteva Production (Arvin Meritor), Brose and IAC Group. It’s a set of five buildings with 115,000 sqm and they were purchased for €72.9m from AIRE GmbH & Co.
“The logistics sector is the youngest segment of CPI´s activities, developing in the last few years,” says CPI Group director Zdeněk Havelka. “Logistics seems to be the fastest recovering sector. The combination of high quality area with significant tenants is a very attractive long-term investment.”
James Chapman of Cushman & Wakefield, which advised CPI for this transaction, points out that it’s the largest investment deal since the financial crisis hit. (Anyone remember the last one?) “It is an example of the confidence returning to the country,” he says. “We are seeing strong growth in the number of international investors looking to invest in quality assets in the retail, office and industrial sectors.”
Well, that may be, but the local guys continue to brush those international investors aside like minor nuisances.