OTP Real Estate Investment Fund has acquired a 30-thousand-square-metre logistics property within the Industrial Park of Győr. The purchase is part of a portfolio optimization strategy, by which the Fund aims to increase the yields of the OTP Real Estate Investment Fund.
Another logistics property has been added to the portfolio of the OTP Real Estate Investment Fund. After the Citypoint9 urban logistics centre in Budapest, the Fund has again acquired a warehouse in Győr, in the neighborhood of the Audi factory and several other companies from the automotive, mechanical engineering, electronics, and trade industries. Only in Győr, this is already the second Category A logistics property of the Fund, thus synergies can be achieved to increase the efficiency of operations and management too. The 30-thousand-square-metre property is almost fully leased, among its tenants there are domestic as well as multinational companies.
“The purchase of another piece of property with a stable circle of tenants is part of our long term portfolio development, which primarily aims to increase the revenue-generating ability of our real estate portfolio and thus increase the yields of the OTP Real Estate Investment Fund” – said Balázs Tóth, chief executive officer of OTP Real Estate Investment Fund Management Ltd., adding that in the past months a significant amount of fresh capital was invested in the Real Estate Investment Fund.
As part of this strategy the OTP Real Estate Investment Fund enlarged its portfolio in the past year with a commercial real estate-complex in Újpest and with the urban logistics centre “Citypoint9” with 23 thousand square meters of rentable offices and warehouses. The latter was considered to be one of the biggest transactions of the Hungarian industrial real estate market in 2015. The majority of the Fund’s portfolio still consists of office buildings, but there is a growing number of logistics and commercial estates within it as well. The OTP Real Estate Investment Fund Management intends to increase the ratio of these properties further in the future to diversify its portfolio.
„Our primary targets in the future will continue to be high-end logistics and commercial properties in Budapest and in its agglomeration. However, industrially developed areas, such as Győr with the lowest unemployment rate in the country, will also be of strategic importance” – said Balázs Tóth, chief executive officer of OTP Real Estate Investment Fund Management Ltd.
