Press Release

View printer-friendly version
<< Back
Apr 17,2019
TPG Real Estate Partners and Contera Form a Strategic Venture

Partnership  brings together complementary capabilities to pursue industrial real estate  investment opportunities and development projects in Central Europe

San  Francisco, London, and Prague – April 17, 2019 – TPG Real  Estate Partners (“TREP”), the dedicated real estate equity investment platform  of global alternative asset firm TPG, and Contera, an established developer and  operator of industrial parks in the Czech Republic, announced today they have formed  a strategic venture (the “Venture”). The Venture will seek to acquire and  develop industrial projects in Central Europe, primarily in the Czech Republic  and Slovakia. One of the Venture’s first projects is a 140,000 sqm industrial  zone directly adjacent to the D1 highway in Ostrava-Hrušov.

In connection with the formation of the Venture, TREP has acquired  certain assets from Contera, including the company’s industrial parks in  Teplice and Ostrava, in a transaction valued at more than 90 million EUR.  Contera will continue to operate and manage these assets, as well as the assets  acquired and developed through the Venture. Contera will also continue to  independently own and manage the remainder of its portfolio, which includes approximately  110,000 sqm of industrial property.

“In forming the Venture, we are partnering with a highly experienced  and proven local team to pursue opportunities in a region and sector that  continue to experience strong growth trends,” said Michiel Celis of TREP. “We  look forward to making this a successful, long-term partnership and hope to invest  significantly more capital as we source new projects and execute on an exciting  pipeline of opportunities.”

“After 10 years of growing  Contera independently, thanks to this partnership with a strong global  investor, we can start a new era in the development of our company,” said Tomáš  Jirků, Co-Founder and CEO of  Contera. Dušan Kastl, Co-Founder and Managing Director of Contera, added, “Our  partnership with TREP will allow us to expand significantly and reach strategic  scale in the Czech and Slovak markets.”   

TREP has a history of developing strategic partnerships with  high-quality management teams and operators to capitalize on compelling market  opportunities. Select current and past investments include A&O Hotels and  Hostels, Arlington Business Parks, Evergreen Industrial Properties, Icon  Industrial, P3 Logistic Parks, and TriGranit.

Founded in 2009, Contera develops, owns, and operates industrial  business parks in prime locations in the Czech Republic. Contera’s full-service  business model provides clients with leasing options within its portfolio, as  well as customized, build-to-suit solutions. The company also specializes in  the redevelopment and revitalization of brownfield properties in well-connected  locations. This year, Contera celebrates its 10th anniversary.

Cushman & Wakefield served as an advisor to Contera for this  transaction.

About TPG  Real Estate
TPG Real Estate ("TPGRE") is the real estate platform of  TPG, a leading global alternative asset firm with more than $104 billion of  assets under management and 17 offices around the world. TPGRE includes TPG  Real Estate Partners (“TREP”), its equity investment platform, and TPG Real Estate  Finance Trust (NYSE: “TRTX”), its debt origination and acquisition platform.  TREP focuses primarily on investments in real estate-rich companies, property  portfolios, and select single assets located in North America and Europe. TRTX  originates and acquires senior real estate loans across a broad spectrum of  asset classes in North America. TPGRE currently manages approximately $10.8  billion in assets across both platforms. For more information please visit www.tpg.com.

About  Contera
Founded in 2009 by experienced professionals in the field of  property development, project and construction management, Contera owns and  operates industrial parks in major locations in the Czech Republic. Most  buildings in these parks have been completed and leased to leading Czech and  international companies, mainly in the logistics and manufacturing sectors. For  more information www.contera.cz

Media Contacts
Contera
Erika Straškrabová
+420 732 915 226
erika.straskrabova@contera.cz

TPG
US

Luke Barrett
415-743-1550
media@tpg.com

Europe
Alex Jones
+44 207 952 2000
tpg@greenbrookpr.com