The investment groups Progresus and Halcyon have entered a strategic collaboration with the German firm GARBE Industrial Real Estate CEE. The first joint project will be the construction of an industrial hall in the Czech town of Klášterec nad Ohří covering 20,815 square metres of floorspace and valued at approximately €30 million.
Progresus and Halcyon have entered a strategic collaboration with Garbe Industrial Real Estate. The first joint project will be the construction of an industrial hall in the Czech town of Klášterec nad Ohří covering 20,815 sqm of floorspace and valued at approximately €30 million. Together, they will build Garbe Park Chomutov II, a logistics centre of 45,442 sqm total space and more than 20,000 sqm of usable floorspace in the strategically situated Verne industrial zone just outside the town of Klášterec nad Ohří, which is about 115 km away from Prague. Construction will begin in early 2023. “The lessee of Garbe Park Chomutov II will be announced in the first quarter of the next year,” says Lukáš Zrůst, co-owner of Progresus.
“Our family of industrial complexes is growing with a second project in Northwest Bohemia, Garbe Park Chomutov II. We continue to grow, and now we also have a strong investment partner on our side. It goes without saying that this development project will meet our highest standards in terms of quality, sustainability, and services for our customers,” says Martin Stratov, Business Development Director for Garbe Czech Republic and Slovakia.
Garbe Park Chomutov II follows the success of the Garbe Park Chomutov industrial park in the town of Chomutov, which features a total gross leasable area of 30,000 sqm. The new development project in the Verne industrial zone near Klášterec nad Ohří will increase this area by an additional 20,815 sqm.
Majority financing for the project is being provided by Progresus Group with a combination of sources, namely its own equity and loan financing. For other planned projects, the group will be using its own equity, loan financing, qualified investor funds, and co-investors. Halcyon Capital Partners is a partner in the project, advisor, and co-organizer of the transaction. The project developer and co-investor is Garbe.
“Just like us, Garbe places great emphasis on longevity and ESG, which means that even when entering the world of industrial real estate, we don’t have to make concessions on our high standards. As part of the diversification of the group’s activities, logistics real estate represents a very interesting segment and a great opportunity, with the limited selection of properties and extraordinary market demand, and we plan to invest in it in the coming years. Work on the first project will begin in the first part of next year, and the building will be completed in 2023. In order to forestall logical questions from the media, we will be announcing the lessee of GARBE Park Chomutov II in the first quarter of next year,” explains Lukáš Zrůst, co-owner of Progresus.
“We’re pleased that we’ve succeeded in organizing this joint project between the dynamically growing Progresus, ourselves, and the established and recognized European developer GARBE. Thanks to outstanding cooperation, we acquired the land in Klášterec nad Ohří very quickly and can now begin building,” says Radek Kučera, founder and partner at Halcyon Capital Partners.
