With the sale of its 51% holding in the Aerozone logistics park to M7 CEREF I in Budapest, CA Immo has completed the strategic withdrawal from the logistics segment that began in 2012. Over the past few years, almost 500,000 sqm of logistical space in total has been sold in Poland, Romania, Hungary and Germany.
CA Immo held a 51% stake in the recently sold Aerozone logistics park in Budapest, which spans approximately 65,000 sqm, through a joint venture with Union Investment Real Estate. The buyer of the logistical property was M7 CEREF I, an M7 managed fund. The parties have agreed not to disclose the purchase price, which is understood to be in the mid-double-digit millions; closing has been confirmed. Law firm CHSH advised the seller in the sale of the Aerozone logistics park.
Photo: MTI / H. Szabó Sándor
According to Frank Nickel, CEO of CA Immo, “We have sold our logistics portfolio to underpin profitable growth in our core business of offices. At the same time we are reducing minority holdings with a view to raising the efficiency of our portfolio management. This largely concludes our programme of non-core sales, which has been in progress since 2012. Alongside logistics, the programme covers the residential segment, smaller office buildings and properties outside of our core cities with a total market value of approximately €1 bn.”
CA Immo is investing the revenue from non-strategic sales in expansion, and particularly the construction of new, modern office properties in Berlin, Munich and Frankfurt.
With the acquisition of 49% minority holdings in one office building in Prague and another in Budapest (finalised in January 2016), the Aerozone logistics park in Budapest became the last remaining property in the C1 portfolio held with joint venture partner Union. The joint venture launched in 2005 was disbanded with the closing of this transaction.
The buyer of the Aerozone logistics park, M7 Real Estate entered the Hungarian market at the end of last year when its CEREF I fund acquired a real estate portfolio from Recovery Zrt., the asset management company for CIB Bank in Hungary. The portfolio consists of two retail centres, the Atom Center in Paks and Csillagvár in Budapest, and the Acélforma industrial hall in Dunaharaszti.
Lefties will open a new store spanning 3,000 sqm as part of the extension of Iulius Mall Suceava. Stradivarius will also open a new store in the shopping mall. Both stores, part of the Inditex group, will open in the first half of 2025.
Getinge, a global provider of innovative solutions for medicine, has leased over 1,900 sqm in Kraków-based office complex Enterprise Park. The company will open a shared services centre in the leased offices. The tenant was represented by CBRE in the negotiation process.
Logistics company Dachser Romania has leased 5,000 sqm in Bucharest-based Industrial Park developed by Schwartz Immobilien, part of Otter Distribution Group. The deal was brokered by Dunwell.
New appointments
Carmen Ravon will be the new Head of Retail for CEE at CBRE starting February 1st. With over 17 years in retail real estate, she has worked with top international brands and provided valuable portfolio optimization and leasing advice.
Katarzyna Kopszak-Dziurnikowska, the organisation's former Chief Investment Officer, has joined the board of Apsys Polska. She started work in her new position on 1st of January, 2025.
Małgorzata Głowicka has joined Ceres as Chief Financial Officer responsible for Central and Eastern European markets. The company provides services in the areas of property management, project commercialisation, construction, redevelopment, modernisation and repositioning of properties.
Lion’s Head Investments announced its entry into the Romanian logistics market by acquiring a 15.5-ha land plot in Popești Leordeni, in the south of Bucharest.
The Polish luxury real estate market is relatively young, with its assets constituting only a small percentage of the overall housing market, while the value of this niche stands at around PLN 3.5 billion (€840 million), according to a Walter Hertz report.
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