CONTERA enters a new era: the CT Real Estate Portfolio will be acquired by Blackstone for approximately EUR 470 million

Czech real estate development and investment group CONTERA has reached a major milestone with the launch of its cooperation with Blackstone, the world's largest alternative asset manager. Blackstone has agreed to acquire CT Real Estate, a portfolio of 10 logistics parks, from TPG Real Estate, with whom CONTERA has successfully partnered on its industrial portfolio since 2019. In addition, Blackstone has committed to buy a portion of the stake directly from CONTERA, with Blackstone holding a majority stake in CONTERA's industrial portfolio upon closing of the transaction. CONTERA will remain a minority shareholder, property manager and developer.

"This strategic acquisition underscores our vision, the quality of our projects and our innovative approach to contributing to the development of industrial real estate over the long term," says Dusan Kastl, CEO of CONTERA. "Our cooperation with Blackstone will allow us to advance our strategic plans and move the company forward. At the same time, our huge thanks go to our existing strategic partner, TPG Real Estate, with whom we have significantly expanded the CT Real Estate network since 2019," adds Tomáš Jirků, Partner at CONTERA.

"With our experience in investing in the pan-European industrial sector over the last decade, we saw an opportunity to team up with CONTERA, a top-tier asset manager, to build, expand and develop a world-class network of logistics parks in the Czech Republic and Slovakia. We are proud of the growth we have achieved since we started working together. Together, we have quadrupled the size of our portfolio, which now comprises approximately 500,000 m² in ten high-quality parks," says Michiel Celis, Business Unit Partner at TPG Real Estate. CONTERA will continue to manage this industrial portfolio for Blackstone in the Czech Republic and Slovakia.

CONTERA sees the entry of Blackstone as a significant opportunity to grow its portfolio. "Together, we will deliver ambitious projects in the Czech Republic and Slovakia that will continue to support the growth of the industrial portfolio. This move is a clear confirmation that in the fifteen years of CONTERA's existence we have managed to build a strong company with excellent know-how and the ability to deliver an outstanding product to the market," says Dušan Kastl, CEO of CONTERA.

CONTERA develops and operates a network of industrial CONTERA Parks, where leading global and domestic brands from the logistics, e-commerce and manufacturing sectors rent space. All CONTERA Parks consist of modern, technologically advanced and operationally efficient logistics and manufacturing buildings that provide comprehensive solutions to their users.

"Logistics continues to benefit from strong growth in demand from users and investors, supported by the development of e-commerce. These high-quality properties complement our existing pan-European portfolio and allow us to benefit from further growth," says James Seppala, Head of European Real Estate at Blackstone.

"Prague, Ostrava and Bratislava are strategic areas for us. Over the course of our existence, we have developed a portfolio of industrial properties valued at more than €500 million. When developing new industrial zones, we focus on revitalising brownfield sites. Nominally, our portfolio makes up more than 85 percent," says CONTERA CEO Tomáš Jirků, adding that CONTERA not only plays the role of a respected developer, but also a property manager and operator.

CONTERA also builds first-class office projects, such as the intelligent ORGANICA building in Ostrava, as well as retail properties in unique locations. Similarly, it is developing the CITYSITE project: a concept of Small Business Units, smaller flexible rental units that provide facilities for modern companies. The spaces can be used for a variety of functions, where, in addition to office space, there can be showrooms, shops, services, small warehouse facilities, but also, for example, laboratories or spaces for science and research. And most recently they are venturing into residential projects.

The signed acquisition of the CT Real Estate portfolio by Blackstone for approximately EUR 470 million represents an exceptional event in Central Europe. "This move demonstrates the strong confidence of one of the world's leading alternative asset managers in our capabilities, and in parallel brings a significant inflow of capital that will support further economic development in the Czech Republic and Slovakia," says Dušan Kastl.

Source. CONTERA.