Real estate investor Nrep is investing €200m on behalf of its European value-add fund NSF V to acquire an 80% stake in Polish logistics developer 7R.
7R, which offers the full cross-section of space including big-box facilities as well as built-to-suit warehouses and urban warehouses, has an existing development pipeline of more than 2.3m sqm.
The acquisition expands Nrep’s total logistics platform, including its development pipeline, to more than 4.2m sqm buildings across six countries.
Rune Kock, Nrep’s CEO, said: “7R is a business with good fundamentals, a strong standing in the market and priorities which align with Nrep’s sustainability efforts and values.
“This acquisition provides a unique opportunity to apply our decarbonisation focus on a large portfolio and scale our efforts to bring down CO2 emissions, as well as gain access to a significant pipeline in a market which has seen continued tenant demand but reduced supply.”
Tomasz Lubowiecki, founder and chairman of the board at 7R, said: “Obtaining Nrep as a strategic shareholder is an extremely important step in 7R’s development.
“This new capital investment in 7R will allow the business to continue its sustainable growth, develop in new markets and focus on long-term tenant relationships, all of which is beneficial to all our business lines.”
To read the latest edition of the latest IPE Real Assets magazine click here