Heitman sees potential for recovery and growth in the office sector in Slovakia

March 14th, 2013

2012 brought positive results in Slovakia for one of the biggest global real estate investment management firms, Heitman. Heitman’s portfolio of real estate in Slovakia consists of the office buildings Bratislava Business Center (BBC) 3, 4, 5, CEOP and Aupark Tower.
  In 2012 almost 15 thousands sqm of new leasing contracts for Office space were signed. This constitutes to 15.2 per cent of the total volume achieved on the market in last year. The biggest share in the new transactions – 10,410 sqm – has been made up of leases in Bratislava Business Center 5 at Plynárenská Street. Aupark Tower now has long-term tenants with almost one hundred per cent occupancy and BBC 4 building is waiting for its planned major reconstruction in 2013.

“Heitman was successful to secure customers not only because of the quality of the assets and their location, but also with services and care that is being provided. That's why last year's transactions were dominated by the renegotiation of contracts," said Lucia Tranová, newly appointed Leasing Manager for BBC 5, 4 and 3. "This year our key focus is to continue the momentum of 2012 by securing new tenants to fill vacancies that exist in BBC 5, 4 and 3. We are also embarking on a major renovation and modernization of the BBC 4 which was recently vacated. This will be completed later this year and will deliver a further 17 500 sqm of high quality efficient and affordable office space to the Bratislava2 district."

To further strengthen the progress made in 2012 Heitman continue to drive forwards its strategy to reposition and release vacancy in it Slovak Portfolio. This is confirmed by its recent announcement of the appointments of Lucia Tranova as the Leasing Manager and Guy Speir as the overall leasing lead on these assets. Both are based in Bratislava. “I have been involved in repositioning office space in CEE for the last 12 years.  In this time I have overseen over 250,000sqm of leasing success. I believe in the Heitman assets, their quality and locations.  The market in Bratislava has been challenging over the last few years but we see huge opportunity in Bratislava today with the availability of quality competitive office space with a strong existing occupier base. With the establishment of this local team this shows Heitman’s commitment to having a stronger local presence." said Guy Speir, overall leasing lead in the leasing office for Heitman´s assets in Slovakia.

Heitman founded in 1966 and headquartered in Chicago,  is a real estate investment management firm with approximately €20 billion in assets invested directly and indirectly in real estate in North America, Europe and Asia-Pacific. The firm’s clients include institutions, pension plans, endowments and foundations, and individual investors. European private equity investments span 17 countries with €3.7 billion currently under management. A leading investor in the region, Heitman has over 50 employees across Europe in its offices in London, Warsaw, Luxembourg and Moscow. Their office portfolio in Slovakia consists of Bratislava Business Center 3, 4, 5, CEOP and Aupark Tower.