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.
Croda Poland, a company that supplies specialty chemicals for the production of pharmaceuticals, cosmetics, household chemicals and crop protection products, will lease more than 510 sqm in the Unity Square One building. JLL was responsible for both tenant and landlord representation in the transaction process.
Angelini Pharma Polska, one of the leaders of the pharmaceutical market in Poland, has once again extended its lease agreement for warehouse and office space in MLP Pruszków I. The tenant has been using approximately 1,5000 sqm of space in this logistics centre for 21 years. This makes Angelini Pharma Polska one of the longest-cooperating tenants of MLP Group.
Kärcher, a supplier of professional cleaning equipment, has chosen the second phase of LogiCube Park for its new 1,000 sqm service and logistics center in Hungary. Additionally, MedRes, a company operating in the healthcare sector, has begun moving in and will soon commence production in the same project. The leasing was overseen by 108 Real Estate, the strategic partner of the park’s investor.
New appointments
Elżbieta Majdan is joining the Property & Asset Management team at Savills Poland as an Associate Director. Elżbieta brings 15 years of experience in managing and commercialising retail properties, gained while implementing key projects on the Polish market.
Savills Czech Republic announces new hires and promotions within its valuation team. Daniel Duchek has joined as a Senior Valuer, Alena Arnoldová has strengthened the team as a Junior Valuer, and Ivana Horáková has been promoted Valuer. Under the leadership of Marek Pohl, the team now consists of seven consultants specialising in the valuation of a wide range of assets – from commercial, residential, and hospitality properties to leisure, healthcare facilities, and land.
Ewa Nowak, a commercial property valuer, has joined the Valuation Department of international real estate advisory firm Newmark Polska as Senior Associate.
Poland’s warehouse market continues to evolve rapidly, with each major region facing unique challenges and opportunities — from power constraints and rising vacancies to the growing role of green solutions and new manufacturing tenants. In their latest analysis, experts from Avison Young break down the dynamics shaping Poland’s “big five” warehouse markets.
International Industrial Properties (IIProp), owned by Madison International Realty and Griffin Capital Partners, will develop two built-to-suit logistics facilities in Poland for a major online marketplace operating across Central and Eastern Europe. The long-term lease agreements confirm the growing demand for modern logistics infrastructure in key Polish locations.
Romanians spent approximately €40 billion in large retail chains last year, marking a 7.1% increase compared to 2023, according to research by Cushman & Wakefield Echinox. The result, while a slowdown from the 11.1% increase in 2023, still outpaced inflation.
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