26th April 2023 ARETE Group's third fund has completed the acquisition of a modern industrial hall near Milovice in the Central Bohemia Region
Prague, 26th of April 2023
ARETE Group's third fund has completed the acquisition of a modern industrial hall near Milovice in the Central Bohemia Region. A multimillion-euro transaction will help to further develop the portfolio of ARETE INDUSTIRAL fund. The long-term tenant will be AAS Automotive s.r.o., which is part of the strong international company Decotek Automotive, a company specializing in the production of longitudinal and transverse car roof racks.
The company's customers include the leading local and German OEM customers, among others. The firm is owned by Irish company Decotek Group, which sees it as a key player in the automotive manufacturing sector in the Central European market.
The purchased industrial hall has an area of more than eight thousand square meters. The mentioned complex of production, storage, and office space boasts the latest technical specifications. At the same time, the complex has room for further expansion over an area of several thousand square meters.
„We are delighted that we have been able to complete the transaction. I would like to highlight the strategic location of the hall. It is close to the D10 and D11 highways and close to the Prague Ring Road. Milovice is within driving distance of Prague, Mladá Boleslav, Liberec, and Dresden, which makes it an ideal location for the automotive industry. In addition, the demand for industrial real estate in this area is significantly higher than the supply. A reputable premium tenant also played a significant role in the acquisition. We signed a long-term lease with AAS Automotive, which is guaranteed by Decotek. Decotek has ambitious plans within the region and its customers include the most prestigious automobile brands in the world. We look forward to working together,” said Robert Ides, co-founder of ARETE Group, on the transaction.
„For Decotek Automotive, this is a strategic project that will be one of the most important in the Central European region. As an Irish company originally, we have the ambition to expand into new markets in the CEE region. Specialising in automotive exterior trim, DECOTEK’s acquisition of AAS will broaden our product and service offering to our Customers in Eastern Europe including localized full-service support. Consistent with our market leading sustainability goals, this localised manufacturing will minimise logistics and CO2 impact for our customers in this region. We are pleased that a fund from the ARETE group will be the owner of the industrial park in Milovice. We would like to appreciate the high expertise and professionalism of the entire team during the negotiations and look forward to future cooperation,” said Tom Hyland, Managing Director from Decotek Automotive.