ČS NEMOVITOSTNÍ FOND is buying the second phase of the Panattoni Park Tychy, logistics asset in Lower Silesia, Poland.
ČS NEMOVITOSTNÍ FOND, managed by REICO investiční společnost České spořitelny, a.s., is expanding its portfolio with the addition of the second phase of the Panattoni Park Tychy located between the Polish cities of Tychy and Bieruň, Poland. The total number of properties in the fund’s portfolio thus increased to 20, with the share of industrial properties in the fund’s portfolio reaching approximately 14%.
Panattoni Park Tychy DC2 is a newly built premium logistics property that was completed in the second half of the last year. It comprises primarily warehouse premises with an aggregate leasable area of 60,700 sq m, which, together with the DC1 building acquired by ČS NEMOVITOSTNÍ FOND last year in July, exceeds 115,00 sq m. Panattoni Park Tychy DC2 logistics park was built to suit a single tenant, the international retail chain Action, which operates nearly 1,700 stores across the European Union, primarily in France, Belgium, the Netherlands, Germany, Austria, Czech Republic, and Poland.
“Acquisition of the Panattoni Park Tychy DC2 represents a substantial increase in industrial exposure for the ČS nemovitostní fond. We are also creating room for expanding our loan book at favourable financing terms with positive impact on fund return,” says Tomáš Jandík, Chairman of the Board of Directors of REICO IS ČS.