The company Garbe completed the sale of Garbe Green Park Piešťany. The industrial park with a size of almost 28,000 m2 is an attractive acquisition due to the fact that it is fully leased, is unique in Central Europe in terms of sustainability and is carbon neutral. The buyer is the Czech company Patria investiční společnost, which is part of the ČSOB Group. This is its first acquisition into a mutual fund, which is going to be opened to retail clients of ČSOB in 2025. Until now, it focused only on closed-end funds for qualified investors from among the clients of Privátne bankingtv and Wealth office ČSOB. Garbe remains property manager at Green Park after the sale. The value of the transaction was not disclosed.
"We entered the markets of Central and Eastern Europe four years ago. We have built several industrial parks here that meet high technical requirements and sustainability certifications. Their attractiveness is underlined by the interest of tenants, who appreciate the availability and quality of our projects. After a three-year development cycle, it is logical that Garbe has reached the stage where it offers investors its first projects for sale, not only in Slovakia, but also in the Czech Republic and Poland," says Martin Polák, Director of Garbe Industrial Real Estate for Eastern and Central Europe .
Nina Kozáková, chairman of the board of Patria investiční společnost, adds to the transaction: "We are glad that the development of the Garbe Industrial Real Estate group is the first asset in our new fund. An attractive location, excellent tenants, long leases and the developer's responsible approach to sustainability and quality are in line with our investment strategy".
Garbe Green Park Piešťany was the company's flagship in the field of sustainability in the region of Central and Eastern Europe. Thanks to its equipment, the park is carbon neutral, it does not use gas for its operation, it is equipped with photovoltaic panels, and the water is recycled directly in the park, which is pumped from its own well. The building is equipped with heat pumps and the meadows and original forestation are preserved on the property. Garbe Green Park Piešťany is located directly on the Piešťany exit, 80 km from Bratislava and 110 km from Žilina. Thanks to this location, it offers an easy connection to other markets not only in Central Europe. The public transport stop is located on the border of the park.
Garbe's real estate advisors in the transaction were Kinstellar and ASB. For Patria, the legal side was provided by the Wilsons office, TPA financial consultancy, Gleeds technical consultancy, and iO Partners secured the award.
