REICO LONG LEASE, an open-ended mutual real estate fund managed by REICO investiční společnost Erste Asset Management, has acquired a newly built logistics property in Senec, Slovakia. This marks the fifth property added to the fund's portfolio.
The fund acquired the property from DSV Slovakia. The logistics park serves as the Slovak headquarters and a key regional hub for DSV Slovakia. The facility, with a gross leasable area of approximately 69,600 sqm, boasts a strong ESG profile, including green certification, a roof prepared for solar panels, infrastructure for charging electric vehicles and energy-efficient systems such as heat pumps neutralising the building’s CO2 footprint. Located in an important Slovakia logistics sub-market, it provides very good connectivity to major European markets.
The property was acquired through a sale and leaseback transaction, securing a long-term commitment from the vendor to the location while providing the fund with a stable and secure income stream. The value of the transaction amounts to CZK 1.625 billion (€65 million). The buyer was represented by Wilsons, ASB Slovakia, Cushman & Wakefield, and Grinity. The transaction was facilitated by iO Partners, which represented the seller in bringing the opportunity to market and navigating the sale process, with legal representation provided by Kinstellar.
“This asset fits very well into the investment strategy of the REICO Long Lease fund in every aspect - not only in terms of its core location, institutional volume and quality but also environmental sustainability and, most importantly, the length of the lease, the income security and the financial covenant of the tenant. The logistics park is fully leased to DSV, a global market leader in the 3PL sector, on a long-term basis. I am pleased that we have acquired this property into our portfolio,” said Jiří Horák, CIO and Vice-Chairman of the Board at REICO IS EAM.
“Since opening the RLL fund for redemptions last year, we have successfully embarked on acquisitions, delivering on the promises made to our distribution network - bankers from Česká Spořitelna and the unitholders. This marks the fund’s first property acquisition in Slovakia, further expanding our geographical diversification. However, we are still at the beginning of our ‘acquisition wave’ and will soon be finalising additional transactions,” added Dušan Sýkora, Chairman of the Board at REICO IS EAM.
"This transaction represents the largest sale-and-leaseback in Slovakia since 2018, demonstrating the strong investor demand for high-quality logistics assets in the region. The DSV logistics hub in Senec stands out with its technical quality and sustainability credentials, making it a truly outstanding property," says Robert Cesnak, Director, Capital Markets at iO Partners.
With the acquisition of the DSV property, the REICO LONG LEASE fund has increased the share of real estate assets in its portfolio to 67%, further strengthening its geographical diversification. The total net asset value of the fund's portfolio now exceeds CZK 3.19 billion (€130 million). As of the end of January 2025, over 47,000 unitholders had invested in the fund. The targeted annual return after full stabilisation of the fund is approximately 5% p.a. The fund currently owns five properties - two in the Czech Republic, two in Poland and one in Slovakia.
