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CMS advises Gramercy Europe on first Slovak investment

20 March 2019

CMS has advised Gramercy Europe, acting through its fund Gramercy Property Europe III, on the successful acquisition of the KiK Logistics Centre near Dunajská Streda, Slovakia, from Go Asset and ECE European City Estates.

London-based Gramercy Europe is a leading real estate investment fund manager focused on single tenant logistics and light industrial properties located across Europe. It has a focus on Germany, the Netherlands, France and Spain although it has an active investment pipeline covering many European countries – and the KiK Logistics Centre is Gramercy’s first investment in Slovakia.

The KiK Logistics Centre is leased by the German textile discount store chain KiK (KiK Textilien und Non-Food), a subsidiary of German holding company Tengelmann Group, and has been built and developed in the area Kostolné Kračany near Dunajská Streda. The facility offers more than 55,000 square metres and serves as distribution centre to supply Austria, Slovakia, Czech Republic, Poland, Hungary, Croatia and Slovenia. The centre was built in cooperation with the Atrios architectural studio. It was the first logistics park in Slovakia awarded under DGNB Certification System with a gold certificate by the Austrian sustainable building council (ÖGNI).

The CMS team advising Gramercy was led by partner Helen Rodwell and further comprised Dusan Predny and Frances Gerrard (transaction team), Michal Hutan, Dusan Vanek and Martin Balaz (due diligence) and Pavla Kreckova and Michaela Nemethova (financing).