EQT Exeter has acquired a 110,000sqm logistics park in Poland from Invesco Real Estate and Panattoni for an undisclosed amount.
Invesco’s said its real estate arm and its joint venture partner Panattoni have completed the sale of the Panattoni Park Gdansk Airport on behalf of its strategic opportunities investment programme.
The park is located adjacent to Gdansk’s Lech Walesa Airport and includes a big-box warehouse and four last-mile and cross-dock buildings.
Invesco Real Estate and Panattoni acquired the plot in 2020 and developed it. The now completed facility is currently 93% leased.
Petr Sramek, director of transactions at Invesco Real Estate, said: “The Polish market continues to experience strong demand for prime logistics properties.
“This major transaction is a testament to the long-term strength of Poland’s real estate market, with international, core investors willing to make new acquisitions in the region despite the conflict in Ukraine and the uncertainty it has created.”
Robert Dobrzycki, CEO and co-owner of Panattoni Europe and India, said: “The Polish logistics market is the largest and one of the most mature in Central Europe and the low vacancy rate at this newly completed park in Gdansk illustrates just how strong demand is for prime logistics assets.
“We will continue to scour the market in our home country for new development opportunities as we accelerate our expansion across Central and Western European markets.”
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