The divested assets include the 14,500 sq m multi-modal logistics facility in Ostrava, Czech Republic and the 69,500 sq m logistic center in Raca, Slovakia (both sold by HB Reavis Group) as well as the 31,500 sq m Svätý Jur logistics centre in Bratislava, Slovakia and the 16,500 sq m Malý Šariš logistics centre in Prešov, Slovakia (sold by HBR CE REIF fund).
The transaction marks the first disposal made by HB Reavis CE REIF, a €175m commercial property fund managed on behalf of institutional and high-net worth investors by HB Reavis Investment management, the investment management arm of HB Reavis Group. The Fund has acquired the assets at its inception in 2011 and has intention to use the capital released from the transaction, along with the freshly fundraised equity for further acquisitions of assets in Central Europe.
"The successful divestment of this high quality, fully let industrial portfolio to one of the sector's top international investors reflects not only the quality of the underlying assets but also the success of our asset management strategy. These logistics centers are well-positioned to give the new owners continued upside and this transaction allows us to focus on our core segments of office and retail, while recycling the released capital into new opportunities," said Marian Herman, CFO at HB Reavis.
Peter Grančič, Fund Director of HBR CEREIF added: "This is the first successful divestment from the HB REAVIS CE REIF fund since it was launched in 2011. It endorses the quality of the assets in the fund´s portfolio and underlines the value the investment management team generates to the fund´s investors. The disposal also paves way for further expansion of the portfolio throughout the Central Europe".
HB Reavis is an international real estate developer founded in 1993 in Bratislava, Slovakia. It operates in the United Kingdom, Poland, the Czech Republic, Slovakia, Hungary and in Turkey. The operations have so far yielded a total of 917,500 sq m of modern offices, shopping and entertainment spaces in addition to logistics facilities. Over 1 million sq m of developments are in the planning, permit or construction stages. HB Reavis relies on a fully integrated business model covering development, construction, property and investment management. The group has total assets of €2.1 billion, with a net asset value of almost €1.2 billion. With more than 500 professionals, HB Reavis is a global market leader in international commercial real estate. HB Reavis' strong market position has been recognised through numerous awards, such as the UK Property Award "Best Office Architecture London 2015" for 33 Central and the CEE Quality Award for "Developer of the Year in CEE, 2015". For more information, please visit http://www.hbreavis.com.
HBR CE REIF is € 175m semi-open commercial property fund managed by HB Reavis Investment management, the investment management arm of HB Reavis Group. The fund invests in standing, fully-let, income generating property across office, retail and logistics segments in Central Europe, whilst capitalizing on the robust presence and successful track record of HB Reavis Group within the region. Since its inception in 2011, the Fund has delivered to its investors total return of 10.9% p.a., out of which 5.3% p.a. has been distributed to investors as a dividend. The fund will be looking to reinvest the proceeds from disposal of the logistics assets within the scope of its mandate.
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 65 office locations in 27 countries and employs more than 13,500 people. Assets under management total approximately £234 billion at 30 September, 2015.
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