A fund managed by REICO Investiční Společnost České Spořitelny (REICO IS ČS) has bought a research and development centre in Poland from a joint venture bewteen 7R and US investor InSite Real Estate.

Polish developer 7R said the joint venture has sold BWI Group’s research and development centre in Balice to the REICO ČS Long Lease fund for €27.3m.

The asset, developed in 2020 developed by 7R and leased to automotive parts manufacturer BWI, has 11,000sqm of laboratory and office space.

Tomáš Jandík, chairman of the board of directors of REICO IS ČS, said the acquired asset is located in an attractive location in the Małopolska Region, in the immediate vicinity of Kraków Airport, approximately 1km from the A4 freeway, linking the country with Germany to the west and Ukraine to the east.

Tomasz Kostrzewa, a senior investment director at 7R, said: “The BWI Group centre is not only self-sufficient in energy. The building also has its own well and manages water efficiently throughout the premises.”

Łukasz Jachna, 7R’s chief capital markets officer and board member, said 7R developed the property comprehensively with a build-to-suit strategy – starting from land acquisition to addressing all operational, technical, environmental and staffing requirements of the tenant.

Jachna said 7R sold 17 projects in 2021 worth almost €400m.

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