OTP Real Estate Investment Fund has acquired a 35-thousand-square-metre logistics property
June 22, 2016
Within two months the OTP Real Estate Investment Fund has already added the second logistics property to its portfolio. The 35-thousand-square-metre warehouse complex is located in South-Pest, within the Gyál Business Park, near the M5 motorway and several multinational companies.
The property is 100% utilized due to its excellent location and high technical standards, its tenants are stable, long-term, successful multinational companies. The transaction is part of the OTP Real Estate Investment Fund Management’s ongoing portfolio development, therefore further transactions can be expected in 2016.
Within two months two high-value, high-quality logistics properties have been added to the OTP Real Estate Investment Fund’s portfolio. After the 30-thousand-square-metre logistics centre in Győr, the Fund now has acquired a 35-thousand-square-metre property in Gyál, which became the biggest property in the portfolio in terms of gross floor area. The property is situated on a 16-hectare land and it is fully utilized, mainly due to its excellent location.
“In the past 5 years the logistics map of Budapest has shifted. More and more tenants are choosing the South-Pest region, because of the proximity of the motorway, the airport and several multinational companies; with the acquisition of the property in Gyál, we wanted to exploit the investment possibilities of this trend – said Balázs Tóth, Deputy CEO of the OTP Real Estate Investment Fund Management Ltd. He added: there is a continuously growing demand for Hungarian logistics properties, thus the well-situated Category A logistics properties have the ability to generate a stable revenue stream on the long term.
The tenant mix consist of multinational companies mostly, the building’s inner structure has been constructed to meet their special storage and technical needs; this means that most of the tenants are expected to stay long-term, which strengthens the stability of OTP Investment Fund’s revenue stream.
“In the past months a record amount of capital has been invested in the Real Estate Investment Fund, which we would like to invest in properties with similar qualities in the future. As part of our portfolio development, we are currently working on preparing a transaction of a similar size, by which we aim to increase the profitability of the Fund” – added Balázs Tóth, Deputy CEO of the OTP Real Estate Investment Fund Management Ltd.
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