Czech real estate fund REICO LONG LEASE has entered the Austrian market, acquiring a portfolio of five retail properties let to home improvement retailer Hornbach. The transaction marks the fund's entry into its fourth Central European market.
The five properties are DIY stores completed in 2002 and 2003, each with an average parking capacity of 520 spaces. All five are let to Hornbach on long-term leases, with the retailer having operated at each location for more than 20 years.
"The acquisition of this portfolio of five retail properties in Austria represents an interesting diversification for our fund, both in terms of geography and asset class," said Dušan Sýkora, Director of Real Estate. "These are complexes let to a well-established tenant on an above-average long-term basis, and they also offer potential for future expansion of retail space, which fully corresponds to the investment strategy of REICO LONG LEASE."
Opened in May 2021, REICO LONG LEASE focuses on buildings with long-term leases and creditworthy tenants. The fund is positioned as a complement to investment portfolios, particularly for conservative and moderately dynamic investors seeking to increase their real estate allocation. Following the acquisition, the fund owns 14 properties in total: four in the Czech Republic, three in Poland, two in Slovakia and five in Austria.
