Periskop Logistics and Hochschule Biberach release white paper on light industrial sale & leaseback

Periskop Logistics, a Berlin-based investment advisory firm led by Dr. Kilian Mahler, and Prof. Dr. Thomas Beyerle from Hochschule Biberach (HBC) have jointly published a new white paper titled “Sale and Leaseback of Light Industrial Properties in Germany.”

The publication examines the potential, risks, and strategic considerations of applying the sale and leaseback (SLB) model to the light industrial property segment in Germany. It outlines the model’s dual value: enabling companies to free up capital while maintaining operational use of their facilities and offering institutional investors access to long-term, index-linked leases with promising returns, even as market conditions evolve.

In the context of ongoing geopolitical uncertainties, volatile capital markets, and increasing demands for transformation, the white paper notes that investors are showing greater interest in stable investment vehicles. SLB transactions are gaining traction as they allow businesses to unlock equity without losing operational control, while providing investors with the benefit of long-term, inflation-protected cash flows.

Within this framework, the light industrial sector stands out as a promising target for SLB strategies. Yields in the segment currently range from 7.0% to 9.0%, surpassing levels seen in 2014 and presenting attractive risk-adjusted return opportunities.

“Light industrial properties are particularly appealing at the moment,” said Dr. Kilian Mahler, Managing Partner at Periskop Logistics. “High cap rates, long-term triple-net leases, and indexed rents provide investors with stable, inflation-protected income streams and enable rapid equity recovery.”

The white paper identifies Germany as a market with solid fundamentals for SLB transactions, supported by its resilient industrial SME base, relatively low public debt, established industrial hubs, and government support programs such as the Climate and Transformation Fund (KTF) and the Federal Funding for Energy-Efficient Buildings (BEG).

Light industrial properties, which encompass manufacturing, assembly, and urban distribution facilities, differ from traditional logistics properties by playing an active role in production-related operations. As these facilities become increasingly important within modern supply chains, they are evolving into a distinct and strategically significant asset class.

Commenting on the broader investment landscape, Prof. Dr. Thomas Beyerle from HBC said, “The current capital market environment, combined with the structural momentum in the light industrial sector, offers an attractive entry point for investors with a long-term perspective.”

Photos: Prof. Dr. Thomas Beyerle from Hochschule Biberach (HBC) and Dr. Kilian Mahler, Managing Partner at Periskop Logistics
White paper download kink below:

PSN launches sales of Brno Jedna residential project in central Brno

Developer PSN has launched sales for the first phase of its Brno Jedna residential project, part of a major urban redevelopment on Plynárenská Street along the Svitava River, just minutes from Brno’s city center. The development aims to create a modern residential district that balances quality of life, community focus, and sustainable design.

The first phase includes two buildings, Neon and Xenon, which will offer a total of 188 residential units ranging from one-room to four-room layouts. In addition to apartments, the buildings will house commercial spaces and shared community facilities. Completion of this first stage is expected by the end of 2027.

According to Petr Pospíšil, director of PSN’s Brno branch, Brno Jedna represents a new direction for the city’s urban development by integrating modern architecture with smart technologies and environmentally conscious features. The project is designed to meet the needs of contemporary urban living, offering not only comfortable homes but also spaces that encourage social interaction and an active lifestyle.

The design of Brno Jedna is inspired by the area’s industrial past, reimagined as a functional and sustainable urban neighborhood. Planned features include solar panels, rainwater retention systems, electric car charging stations, bicycle racks, and shared bicycles for residents.

Future residents will have access to a range of shared amenities, such as a rooftop terrace with barbecue facilities and city views, a social terrace with a workout zone, a laundry room, stroller storage, and bicycle storage. The inclusion of retail and service spaces within the project is intended to strengthen the local community and create a lively atmosphere.

Architect Anna Vršková from A8000, the studio behind the project’s design, emphasized that Brno Jedna seeks to balance historical character with modern living. The architectural and urban plan integrates the project into its surroundings while focusing on shared spaces and connections with the wider neighborhood, rather than solely on private living. Vršková noted that the project offers a fresh approach to urban living and has the potential to mark a new chapter for this part of Brno.

The Brno Jedna project will ultimately deliver 188 units in its first phase, with layouts ranging from 1+kk to 4+kk. Located on Plynárenská Street, the site is approximately a ten-minute journey from the city center, making it an accessible and appealing option for future residents.

Brumlovka tenant survey highlights satisfaction with public spaces, amenities, and social life

Passerinvest Group, the developer behind Prague’s Brumlovka district, has gathered feedback from tenants through a satisfaction survey aimed at informing future improvements in the area. The survey, conducted among 19 companies based in Brumlovka, found that tenants value the district’s public spaces, safety, and diverse dining options. Respondents also gave positive ratings to the modern design of building entrance lobbies and the use of rooftop terraces.

The survey confirmed that sustainability and ecological solutions are a priority for local businesses, with nearly 85% of participating companies having established or actively working on ESG strategies. “The results confirm that our long-term focus on respecting the location, maintaining a high-quality indoor environment, and prioritizing tenant satisfaction remains central to our approach,” said Kristýna Samková, Head of Marketing and PR at Passerinvest Group.

Public spaces such as Brumlovka Square, Baar Park, and Brumlovka Park were identified as key strengths, appreciated for their green spaces, water features, and well-maintained relaxation areas. Cultural and social events — including the June concert, travel and dance evenings, markets, and food festivals — were also highly rated. Additionally, tenants expressed satisfaction with the variety and quality of local restaurants, canteens, and cafés.

In response to the survey results, Passerinvest has implemented several improvements, such as adding bicycle storage facilities in building basements and increasing the number of electric car charging stations. Based on tenant suggestions, the range of local services has been expanded to include a nail salon and barbershop, and digital information boards showing public transport arrival times have been installed at bus stops. The survey also showed that public transport and local shuttle buses, combined with walking, are the most frequently used means of commuting in the area.

Some requests, however, cannot be accommodated — such as reopening the Czech Post office that previously operated in the complex. “To address postal needs, we have expanded the network of parcel boxes, which can be used for both receiving and sending parcels. Business correspondence can also be handled by EDM, which offers professional postal services to Brumlovka tenants on favorable terms,” added Samková.

She concluded by noting that the feedback gathered will help guide efforts to make Brumlovka an even more pleasant place for work and leisure and thanked all respondents for their valuable input.

Prague advances new urban development in Nové Dvory with Project 6

The Prague City Council has approved the preparation of Project 6, a major step in the ongoing development of the Nové Dvory area. Managed by the Prague Development Company (PDS), Project 6 will deliver municipal rental housing, retail spaces, and civic amenities near the planned Nové Dvory metro station. The project consists of two blocks: Project 6a, which will include apartments, retail, and civic facilities, and Project 6b, which will focus on apartments and retail. Together, these blocks are expected to create over 500 new apartments.

Deputy Mayor for Strategic and Territorial Development Petr Hlaváček explained that the city is preparing nearly 300,000 square meters of gross floor area on 15 hectares of municipal land. This includes around 2,000 municipal rental apartments and approximately 130,000 square meters for offices, shops, restaurants, and services, which could create up to 5,000 new jobs. Hlaváček noted that Project 6 benefits from consolidated city ownership, which allows the development to move forward efficiently. He emphasized that the new block will eventually house between 500 and 600 apartments, all with the necessary amenities.

The project will develop alongside improvements in local transport, including a new metro station and an extended tram line from Modřany and Libuše, supporting the area’s integration with the broader city.

Deputy Mayor for Housing Policy Alexandra Udženija highlighted that the city’s new housing projects include not only residential units but also essential services like schools, libraries, cultural centers, and healthcare facilities. She pointed out that in Project 6, ground-floor or designated spaces may serve healthcare and social service needs in the future.

According to Petr Urbánek, director of PDS, Project 6 differs from earlier developments, such as Project 1, which is directly tied to the metro. Project 6 focuses primarily on housing and represents the first large block the city will develop through PDS. Urbánek expressed confidence that PDS’s experience will ensure the successful preparation and delivery of this project.

The estimated gross floor area for Project 6 includes 49,000 square meters of housing, 4,000 square meters of retail space, and 1,000 square meters of civic amenities, with plans for 600 underground parking spaces according to local regulations.

The broader Nové Dvory district, situated between Prague 4 and Prague 12, covers a 30-hectare transformation zone. A zoning plan change approved in May 2024 significantly increased the building capacity for the area. Once fully developed, the district could accommodate up to 2,000 municipal apartments and a multifunctional building above the metro station that combines housing, office space, retail, and community facilities. In total, the area is expected to provide housing for up to 5,000 residents and create up to 5,000 new jobs.

A territorial study prepared by UNIT architekti for Prague City Hall in 2021 outlines the district’s development across social, economic, environmental, and cultural dimensions. The project aims to offer a socially balanced community, providing affordable housing for key professions, single parents, and seniors, alongside the necessary social infrastructure. Economically, the district will generate rental income through administrative and retail spaces, particularly near the metro station and new public squares. Environmentally, the design emphasizes efficient land use, integration with public transport, and the creation of green spaces, including new squares and connections to Jalodvorská louka park, supported by blue-green infrastructure such as rainwater harvesting systems. The cultural and educational vision includes schools, cultural centers, sports facilities, restaurants, and cafés, enabling residents to enjoy a full range of services without needing to travel frequently to other parts of Prague.

With PDS managing the preparation and the city retaining ownership of the land, Project 6 is set to become a key piece of Prague’s long-term urban development strategy, offering high-quality housing and public spaces designed to meet the needs of both current and future residents.

Romania’s Presidential Election: George Simion leads first round with 40.9%

The first round of Romania’s presidential election concluded with George-Nicolae Simion emerging as the frontrunner, securing 40.96% of the vote, according to official results.

Simion, leader of the Alliance for the Union of Romanians (AUR), received 3,862,390 votes, nearly double the count of his closest rivals. Nicușor-Daniel Dan followed with 20.99% (1,979,461 votes), closely trailed by George-Crin-Laurențiu Antonescu, who garnered 20.07% (1,892,875 votes).

Former prime minister Victor-Viorel Ponta came in fourth with 13.05% (1,230,143 votes), while Elena-Valerica Lasconi, representing a newer political force, captured 2.68% (252,688 votes).

Since no candidate surpassed the 50% threshold required for an outright victory, the top two candidates — George Simion and Nicușor Dan — will advance to a runoff. The second round will determine the country’s next president at a time when domestic economic challenges, EU relations, and regional security issues remain high on the public agenda.

Futureal Group transitions entire Hungarian portfolio to renewable energy

The Futureal Group has completed the transition of its entire Hungarian office, commercial, and industrial real estate portfolio to renewable electricity. This includes the operations of new residential projects, with part of the renewable energy now produced directly on-site, further supporting sustainability goals and reducing the environmental impact for tenants.

The move aligns with the Paris Agreement and the European Union’s 2050 net-zero carbon emission targets. Since January, more than 500,000 square meters of Futureal-managed real estate has been operated using 100% renewable energy.

Key properties such as Budapest ONE, Corvin Innovation Campus, Etele Plaza, and four HelloParks industrial megaparks are now collectively cutting CO₂ emissions by over 8,500 tonnes per year. Approximately 15% of the energy demand is met through on-site renewable sources, mainly solar panels, supported by an investment of over €5 million by the group.

Cordia, the group’s residential development arm, has also shifted all newly launched projects, including the large-scale Marina City urban renewal project in Budapest’s 13th district, to green electricity. This development, located on a 14-hectare brownfield site along the Danube, will ultimately include more than 2,500 homes surrounded by a nine-hectare car-free green zone.

Because on-site generation does not cover energy needs continuously, Futureal also purchases certified renewable electricity from the grid, sourced exclusively from Hungarian renewable energy producers, verified through Guarantees of Origin (GoO).

“Green energy is not just a sustainability goal but also a competitive advantage,” said Márk Balástyai, CEO of Futureal Energy. “By applying renewable energy across our entire portfolio, we are reducing environmental impact while providing a more stable and cost-efficient energy supply for tenants over the long term.”

Futureal’s developments have been designed with environmental, social, and governance (ESG) principles in mind, achieving several notable certifications. Budapest ONE and Corvin Innovation Campus have both been awarded BREEAM Excellent ratings. Etele Plaza was the first shopping center in Hungary to secure a BREEAM Very Good rating during construction. HelloParks Maglód MG3 became the first industrial development in Hungary to earn a BREEAM Outstanding rating under the New Construction category, and the FT1 warehouse in Fót was the country’s first industrial building to meet EU Taxonomy requirements for sustainable investments.

Currently, the group operates five industrial buildings certified as BREEAM New Construction Outstanding and four facilities aligned with EU Taxonomy standards, with all new projects developed according to these rigorous sustainability benchmarks.

Dornych project in Brno advances with high recycling rates after demolition phase

The construction of the Dornych project near Brno’s main railway station, led by the Crestyl development group, has entered its next phase following the demolition of the old shopping center. As of the end of April, the rubble removal has been completed, with 90% of the demolished material set for recycling. All raw materials from the excavation site will also be reused, some of which will be incorporated directly into the new construction. The project is expected to be completed by late 2027.

The Dornych development will feature a publicly accessible, partially covered space surrounded by six smaller buildings. The lower floors will house retail and services, while the upper floors will accommodate a hotel, medical clinic, rental apartments, and office spaces.

Around 95,000 tons of rubble were removed from the site for recycling, and an estimated 247,000 cubic meters of soil will be excavated. “We treat waste as a raw material for further use rather than landfill disposal,” said Petr Ševčík of Ševčík Group, the company managing the recycling process. The recycled materials will be used for applications such as fill, drainage, soil stabilization, concrete mixtures, and landscaping.

The Dornych complex is designed to meet LEED Platinum certification standards, emphasizing environmental sustainability. Planned features include charging stations for electric vehicles and bikes, energy-efficient lighting, rainwater reuse systems, bicycle storage, and ground/water heat pumps, which are expected to cut energy use by up to 40% compared to similar projects.

The development will include the NYX Hotel Brno with 170 rooms, 186 rental apartments, 50,000 m² of office and retail space, a 6,000 m² EUC clinic, and the region’s largest coworking and flexible space operated by Scott.Weber Workspace. Underground parking, street connections, and integration with the underpass beneath the railway station will link the site to Brno’s city center and the planned South Quarter.

The total investment exceeds CZK 7 billion. The project’s architectural design is led by the international firm MTDI, with Brno’s Arch.Design as the local partner. Gemo is the general contractor, and RUBY Project Management oversees the overall project coordination.

Czech Housing Fund reports 9.44% annual return, expands portfolio to CZK 1.2 billion

Fond Českého Bydlení SICAV, a.s. (Czech Housing Fund) reported a 9.44% annual return for 2024 and expanded its real estate portfolio to CZK 1.2 billion, reflecting a year-on-year increase of 146%. According to the Nemovitostni-fondy.cz portal, the fund ranked among the top three performing real estate funds in the Czech market last year.

As of 2025, the fund manages 551 apartments, marking a 187% increase from the previous year. With a loan-to-value (LTV) ratio of 19%, the fund maintains one of the lowest debt levels among Czech real estate funds.

Co-founder Jakub Kořínek stated that the fund is in an active growth phase, with recent acquisitions in Příbor, Beroun, and Chomutov and plans for further expansion. Investors who have been with the fund since its establishment in 2018 have seen total returns of 63.66%.

Since 2022, the Czech Housing Fund has averaged portfolio growth of 9.14% per year. Co-founder Tomáš Novák emphasized the fund’s target of maintaining annual returns between 9% and 10%. The fund’s assets under management (AUM) reached CZK 1.029 billion in 2024, up 136% year-on-year.

According to dividend class head Lucie Šimková, the fund’s return increased by 1.17 percentage points compared to the previous year. The dividend class, launched mid-2024, posted a 6.02% return for its first months of operation.

The fund’s investment focus remains on regional rental housing, particularly in the Ústí nad Labem and Moravian-Silesian regions, where historic industrial housing estates offer investment potential. The portfolio also includes properties in Znojmo, Plzeň, Liberec, and, since 2022, in Slovakia.

Currently, the fund manages 21 properties across 13 locations, totaling 33,792 m² of leasable space, including residential and non-residential units.

Concens Investments rebrands as Gridarch amid expansion plans

Czech development company Concens Investments has rebranded as Gridarch, marking a new phase of expansion and growth. As part of the change, all upcoming development projects will carry the unified name Gridarch Park, with the exception of the established Ostrava Airport Multimodal Park, which has grown into a key Central European logistics hub.

The company has also relocated its Prague headquarters to Revoluční 1, Prague 1, reflecting its broader operational and team expansion.

“With my appointment as CEO at the start of 2024, we launched a strategy focused on significant growth,” said Tomáš Novotný, CEO of Gridarch. “We are advancing our plans successfully — not only by expanding the Ostrava Airport Multimodal Park, but also by preparing new commercial and industrial zones and acquiring building plots in strategic locations. This business growth has required us to increase our workforce, expand our project team, and establish a new representative office in central Prague. Our transformation is now symbolized by our new brand, under which we’ve been operating since mid-April.”

Gridarch specializes in the development, construction, and leasing of modern industrial and logistics properties. Since 2018, it has led the development of the Ostrava Airport Multimodal Park in Ostrava Mošnov, which currently spans 300,000 m² of industrial space. Part of the complex is co-owned by the U.S.-based investment firm EQT Real Estate (formerly EQT Exeter). Gridarch is also advancing the preparation of additional commercial and industrial zones across the Czech Republic.

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