News Article ČSOB Czech Republic Garbe Industrial Investment Patria Slovakia
by Property Forum | Industrial

Garbe Industrial Real Estate CEE has completed the sale of Garbe Green Park Piešt'any in Slovakia. The nearly 28,000 sqm industrial park is fully leased. The buyer is Patria investiční společnost, a.s., part of ČSOB. 

During 2023, Patria investiční společnost extended its licence to the management of special real estate collective investment funds and established the ČSOB Nemovitostní fond. This is its first acquisition into a share fund that is going to be opened to retail clients of ČSOB in 2025. So far, it has focused only on closed funds for qualified investors from the Private Banking and Wealth Office clients ČSOB. After the sale, Garbe will remain the property manager in Green Park. The value of the transaction was not published. 

The industrial park is carbon neutral, equipped with heat pumps, and photovoltaic panels and has its source of drinking water. Long-term tenants of Green Park Piešťany include the hi-tech electronics manufacturing company GPV, Naut Group SK, engaged in retail and e-commerce, and automotive roof window manufacturer Inalfa Roof Systems. The average length of leases in the industrial park is more than 8.5 years.

Garbe has been operating in the Central European region since 2020. "After a three-year development cycle, it is logical that Garbe has reached the stage where it offers investors its first projects for sale, not only in Slovakia but also in the Czech Republic and Poland," says Martin Polák, Managing Director Central & Eastern Europe at Garbe.