Generali Real Estate has acquired a core logistics asset in Poland on behalf of its pan-European logistics fund.

The manager has paid an undisclosed sum to 7R to buy the fully-leased 7R Park Kraków IX in Kokotów on behalf of the Generali Real Estate Logistics Fund (GRELF).

The deal is the second transaction in the logistics segment in Poland, that Generali Real Estate has completed with 7R this year, after the acquisition of a warehouse complex in Gdansk.

The GRELF fund targets high-quality logistics assets in well-established areas with excellent accessibility, in major European logistics hubs.

Pierre-David Baylac, the head of logistics at Generali Real Estate, said: “We are pleased to continue our European expansion in Logistics, executed through our pan-European dedicated fund GRELF, with this second opportunity in Poland.

“We are also delighted to cooperate with 7R again, following the acquisition of the Gdansk park this summer.”

With more than €1bn assets under management in logistics, at the end of 2021 “our portfolio of logistic assets in France, Italy and Poland will be 145,000sqm bigger, with existing assets or to be delivered in 2022”, Baylac said.

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