Clifford Chance has advised Europa Capital on the acquisition of the D2 Logistics Park project together with partner White Star Real Estate. Dentons advised the undisclosed seller.
According to Clifford Chance, "the D2 Park is an industrial site located in Hrusky, in the South Moravia region, with direct access to the D2 highway which connects Brno and Bratislava. The acquired area spans around 170,000 square meters and will offer 57,000 square meters of warehouse spaces."
"The construction works have already commenced, and the first tenant should start using the premises at the end of the year 2022. The park should operate at its full capacity at the beginning of 2023," the firm informed.
Founded in 1995, Europa Capital is a pan-European real estate investment manager with logistics developments in the UK, France, Germany, Hungary, Poland, and the Czech Republic. White Star Real Estate is a Central and Eastern-European developer and asset manager.
"The D2 Park presented an opportunity to invest in a high-quality, well-located logistics scheme targeted at both logistics companies and production operations," Europa Capital Partner and Head of Investments Robert Martin commented. "The Czech Republic, including the area of South Moravia, is experiencing a dearth of high-quality logistics supply and, with a historically low vacancy rate of below 2%, D2 Park is well placed to meet this demand."
The Clifford Chance team was led by Counsel Aneta Disman and included Partner Emil Holub, Associate Ondrej Dolensky, and Junior Lawyer Jan Christelbauer.
The Dentons team included Partner Jiri Strzinek and Counsel Jan Hrivnak.