CB Property Investors acquired industrial park in Liberec; transaction value exceeded CZK 1 billion
The CB Property Investors fund, together with another investor, has bought an industrial park in Liberec. The acquisition came at a time when the owner of the site was looking for a strategic partner to help finance and complete the park. We will use part of the financing to pay off the liabilities and plan to complete the site so all tenants can move into their new spaces by the third quarter of 2023.
The excellent location and already-signed long-term lease agreements with stable companies are one of the main factors why we decided to go ahead with this acquisition. Financing was also provided by the fund's professional private investor together with UniCredit Bank.
Acquisition will promote job creation and an influx of technology companies
UCT Fluid Delivery Solutions, a leading manufacturer of plastic modules for the production of chips, microchips and SIM cards, will lease almost three-quarters of the leasable area in the facility, which will be called CBPI Park Liberec. Due to its focus, the company is currently experiencing excess demand and production capacity is not keeping up. It will move production from its current two sites to the new facility at the same time as recruiting around 600 employees.
Other tenants, Cattron and Wassa, will also contribute to the creation of new jobs. In total, up to 1,000 people are expected to find work at the site.
Increasing the value of the portfolio
The acquisition of a site with a total area of almost 39,000 square meters fits perfectly with the CB Property Investors fund's strategy of taking an active interest in properties where we can add value through additional investment. We currently manage a portfolio with a total value of CZK 1.2 billion. Upon completion of the site, the fund will manage assets totalling around CZK 1.8 billion.
"The acquisition of the site with a value of approximately CZK 1.5 billion upon completion is a big step forward for our fund. We believe that this acquisition will bring high value to our investors and allow us to work on further opportunities to build a strong property portfolio. At the same time, it helps stable companies to grow and creates jobs in the technology industry, which was an important criterion for our selection," says Jan Rovný, Head of Investments & Transactions at CB Property Investors.