CA Immo sells last logistics real estate
Image by Pixabay
CA Immo has sold its shares in the Aerozone logistics park on the outskirts of Budapest and commenced its strategic move, launched in 2012, to leave the logistics market by selling a total of almost 500,000 square meters of space in Poland, Romania, Germany and Hungary.
The last logistics real estate CA Immo owned was the 65,000 sqm Aerozone, which it has sold to the M7 CEREF I fund. CA Immo was represented by law firm CHSH. The parties agreed not to publish the transaction price.
CA Immo President Frank Nickel said that by leaving the logistics market behind, the company will especially focus on the office segment, and strengthen profitability by buying out minority stakeholders.
CA Immo said it plans to use the new capital to invest in modern office buildings mainly in Berlin, Munich and Frankfurt.
Before Aerozone, CA Immo closed deals in January with Union Investment Real Estate AG to buy out Prague’s Danube House and Budapest’s Infopark A office building, in which it formerly held shares of 49%.
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