Open-ended fund Reico Long Lease has purchased The Mill office building in Bratislava from developer Immocap, in one of the biggest property deals closed on the Slovak market in the year to date.
The building, completed in 2023, has a total leasable area of 26,732 sqm. It serves as the new local HQ for Henkel under a long-term lease that represents 65% of rental income.
"The Mill building fits well into our Reico Long Lease fund portfolio, where it is the first investment in offices, further diversifying the fund's risk profile. The partnership with Immocap is a big step for us in the Slovak market and I am convinced that we will see further joint transactions in the future," said Dušan Sýkora, Chairman of the Board of Reico IS EAM.
The Reico Long Lease fund was launched in May 2021 and focuses on buildings with long-term leases and creditworthy tenants. The fund now owns eight properties, three in the Czech Republic, three in Poland and two in Slovakia.
