But this does not stop the joint plans with the American partner. In the near future, a joint venture with TPG will be set up to build new industrial zones in which Contera will hold a two-thirds stake. “One of the first new projects will be in Ostrava - Hrušov, which is a 35-hectare brownfield that the city of Ostrava sold last year. We will begin preparatory work for the construction of the new zone this year, ”said Dušan Kastl, Executive Director of Contery. "Our joint plan is to expand more, so far, Contera has focused mainly on construction in Ostrava and around Prague," Contery Tomáš Jirků, CEO and former majority owner, added.
There can be 130 thousand square meters of warehouses and factories. The investment will exceed CZK 2 billion. Contera was founded in 2009. “After ten years of autonomous growth, now thanks to a partnership with a strong global investor, we can start a new era of development for our Contera Group,” said Tomáš Jirků. TPG Capital is one of the leading global private equity players. Only the real estate part of the company has assets worth almost $ 11 billion.
Tenants in Contery's logistics parks include the Ikea furniture chain, Magna Automotive, Zoot, and Adler.
TPG is not the first time in the Czech Republic. The group co-owned another builder and investor in the P3 logistics and industrial halls. In 2016, she sold one of the largest domestic warehouse owners to Singapore's GIC for € 2.4 billion. Much of modern industrial real estate has changed owners in recent years. Recently, new warehouses and factories in the Czech Republic have not been traded too much. However, the acquisition of TPG Capital is already the second in the last six months, indicating a change in trend. Last autumn, the German Deka Fund bought three industrial parks for 460 million euros from the CTP real estate group. The store included 430,000 square meters of lettable area.
Source: www.sklady.cz
