Deka Immobilien has acquired a logistics portfolio in the Czech Republic for c. €460m. The seller is the CTP Group. Including two development projects, the portfolio contains 36 modern buildings with a total leasable area of around 430,000m². The “CTPark Prague North” properties are in a conventional logistics location. The portfolio also includes two large industrial parks, “CTPark Teplice” and “CTPark Plzen”, which contain a mix of logistics and light industrial properties. Due to the size of the acquisition and the different locations, the properties are being added to different funds.
The “CTPark Prague North” property will be added to the open-ended real estate fund Deka-ImmobilienEuropa. The “CTPark Teplice” industrial park will be added to the WestInvest TargetSelect Logistics sector fund, which is aimed at institutional investors, marking the fund’s entry into the Czech market. The “CTPark Plzen” industrial park will form the starting portfolio for the new institutional fund Deka Immobilien Fokus Logistik Tschechien. It was also agreed that CTP will manage the parks for the next ten years.