HB Reavis Group and HB Reavis CE REIF fund have jointly sold for €79 million a 132,000 sqm portfolio of logistics centres in the Czech Republic and Slovakia to Macquarie Infrastructure and Real Assets, part of the Macquarie Group, one of the largest global investment banking and diversified financial services groups in the world. The fully-occupied portfolio consists of 2 assets owned by HB Reavis Group and 2 assets held by HBR CE REIF.
The divested assets include the 14,500 sqm multi-modal logistics facility in Ostrava, Czech Republic and the 69,500 sqm logistic center in Raca, Slovakia (both sold by HB Reavis Group) as well as the 31,500 sqm Svätý Jur logistics centre in Bratislava, Slovakia and the 16,500 sqm Malý Šariš logistics centre in Prešov, Slovakia (sold by HBR CE REIF fund).
The disposal reflects the strategic decision of HB Reavis Group to divest its industrial development business and focus its development activities entirely on European office and retail projects.
The transaction also marks the first disposal made by HB Reavis CE REIF, a €175m commercial property fund managed on behalf of institutional and high-net worth investors by HB Reavis Investment management, the investment management arm of HB Reavis Group. The Fund has acquired the assets at its inception in 2011 and has intention to use the capital released from the transaction, along with the freshly fundraised equity for further acquisitions of assets in Central Europe.