The open-ended Aberdeen Standard Investments European long-income logistics real estate fund is buying a €28m asset in Poland.
Aberdeen Standard European Logistics Income (ASLI) said it has signed the purchase agreement for the previously announced acquisition of the fully-leased 31,500sqm logistics and distribution property in Lodz.
The Panattoni Lodz City VIII Logistics Centre consists of 27,888sqm of warehouse space and 3,612sqm of office space. The asset is leased to six tenants.
Evert Castelein, fund manager for ASLI, said: “The warehouse in Lodz is a very high-quality income-producing asset located at the heart of one of the CEE region’s most strategically important manufacturing and logistics hubs.
“The asset’s proximity to the nearby Bosch Siemens Campus provides strong long-term attraction to occupiers in this supply chain, while the new international railway station and its direct links to China and other European markets provide unrivalled international connections.”
Castelein said ASLI is actively pursuing deals in the wider region and whilst the demand for logistics property has led to further yield compression, particularly in core markets, “the overall return prospects for investors in this sector are expected to remain strong as operators continue to seek additional capacity and the reshoring of operations from overseas gathers pace”.
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