Akron purchases Ukraine logistics park for €40m

The Austrian real estate investment firm continues to target Central and Eastern Europe.

Vienna-based Akron Group has bought a €40 million ($58 million) logistics park in Kiev, Ukraine from the Austrian Developer GLD Invest Group.

The purchase of Eastgate logistics park has been made from Akron’s €500 million Akron Investment CEE II fund. Easgate is a newly developed storage and office building covering 40,000 square meters.

The property was built by GLD Invest Group as part of a forward purchase deal with Akron, and was built in 15 months. The site is located to the east of Kiev, near Borispol Airport and 30 kilometers from the city center. In addition to the storage premises, the site also has 4,500 square metres of office space.

German logistics group FIEGE/rewico, retailer Sportmaster and the French company Groupe-Atlantic signed on as long-term tenants in the facility shortly after construction began, according to the firm.

Akron Group was founded in 1995 by Günther Kloimüller and J. Christian Thalhammer as a real estate enterprise targeting offices, logistics buildings and shopping centres. The group is headquartered in Vienna and now operates in Germany, the Netherlands, Hungary, Poland, Ukraine, Russia and Croatia. The company currently manages a real estate volume of 56 buildings worth around €1.2 billion and is developing properties to the value of €500 million. The firm’s second Central and Eastern Europe fund has made seven other investments, all in Poland.