Bratislava, Slovakia - The Slovak commercial real estate market experienced a record-breaking first half of 2025, with investment volumes exceeding €500 million. This figure surpasses the total transaction volume recorded in the entire year of 2024, indicating a renewed level of investor confidence and notable increase in transactional activity. Cushman & Wakefield captured a significant share, accounting for ca. 60% of the investment transaction volume.
The year began with several large-scale transactions and deal activity has remained strong throughout the summer. A similar pattern has been observed in the Czech Republic, where the H1 investment volume has also already overtaken last year’s annual total.
Industrial and logistics assets were the most actively traded, accounting for 57% of total volume. Retail assets followed with a 34% share, and office assets contributed 8%.
Central European investors, particularly local investment funds, contributed 53% of over half-billion-euro total. The remaining 47% came from foreign institutional capital.
Key Transactions in H1 2025
1. Tesco Galleries Portfolio
Tesco Slovakia disposed of five retail galleries across the country via a sale & leaseback transaction, repositioning itself from owner to long-term tenant. The strategic move enables capital release while maintaining operations in key regional locations. Hungarian investment firm Adventum Group acquired assets in Dunajská Streda, Trnava, Nitra, and Žilina. The newest gallery, located in Bratislava's Petržalka district, was acquired by a private Czech investor.
2. DSV Logistics Facility, Senec
Global logistics firm DSV completed a sale & leaseback of its newly developed distribution center in Senec, retaining occupancy under a long-term lease. The facility meets the highest standards of sustainability, technical specifications, and carbon neutrality, making it highly attractive to ESG-focused investors. The asset was acquired by one of REICO’s Czech real estate funds, part of Austrian ERSTE Group.
3. VIVO! Bratislava
Investment firm Wood & Company expanded its real estate holdings with the acquisition of Polus City Center, currently VIVO! Bratislava, which includes a dominant shopping center, two office towers, and a development land plot designated for future residential use. With this acquisition, Wood & Company now owns two key retail centers in the capital.
4. OBI Retail Portfolio
Slate Asset Management, a Canadian investor, disposed of three DIY retail properties leased to OBI in Košice, Martin, and Nitra. The assets were acquired by a German family office representing the Lindner family.
5. Contera Parks Industrial Portfolio
Blackstone, one of the world’s leading alternative investment managers, entered the Slovak market through the acquisition of an industrial and logistics portfolio from Canadian investor TPG. The transaction includes assets in both Slovakia and the Czech Republic and represents one of the largest industrial portfolio deals in the CEE region, and Europe, over the past 12 months.
Outlook for the Rest of the Year
The rebound seen in H1 suggests 2025 is on track to become one of the strongest years in recent memory. Rudolf Nemec, Head of Capital Markets at Cushman & Wakefield Slovakia, remains optimistic: “Several transactions are currently in advanced stages and expected to close in the second half of the year. We forecast that the total annual volume could range between €800 million and €1 billion. The continued decrease in interest rates and more favorable bank financing conditions are further supporting investor appetite and improving yield metrics.”