Gramercy Europe’s third fund has added two warehouse assets in Slovakia and the Czech Republic to its portfolio in a €50m deal.

In the first deal, Gramercy Property III acquired a 55,472sqm logistics warehouse in Dunajská Streda from GO ASSET Development and ECE European City Estates.

In a second transaction, the fund bought three adjacent warehouses, totalling 44,444sqm, in the Pohorelice Logistics Park, in the Czech Republic, from Cromwell Property Group.

Alistair Calvert, the CEO of Gramercy Europe, said: “Whilst still relatively fragmented, the central European logistics market continues to mature, with more and more global third-party logistics and major e-commerce businesses seeking modern, well-located logistics space.

“Both of these properties, let on long-term leases to strong counterparties, fit with our stated strategy of acquiring tenant critical assets in established logistics hubs with low vacancy rates and where there is the opportunity to realise both income and capital growth.”