Generali Fond Realit has acquired the Garbe Progresus Park Klášterec I logistics facility in the Czech Republic from Garbe and Progresus.The investment fund, managed by Generali Investments CEE and advised by Generali Real Estate, completed the purchase of the 18,500 sqm property located in the Ústí nad Labem region between Chomutov and Klášterec nad Ohří.

A new logistics and industrial centre was opened in the area between Chomutov and Klášterec nad Ohří (west of Prague near the German border) for CZK 520 million (€21.4 million). The construction of the Garbe Park Klášterec II project with a total leasable area of over 18,000 sqm was completed in eight months. Representatives of the Progresus investment group and the developer and co-investor Garbe have already handed over the building to the main tenant, the German manufacturer of sealing systems Isolite. 

Wood is a building material that experts believe has a great future for many reasons. Firstly, it plays a significant role as a renewable material it is also a key in mixed-use buildings and contributes significantly to ESG or carbon neutrality targets. Thus, the demand for wooden buildings and prefabricated wooden products is not decreasing, quite the opposite, says Martin Skalický, Chairman of the Advisory Board at Progresus Invest Holding in an interview with Property Forum.