Principal Asset Management‘s European logistics and industrial fund has acquired its first Polish asset.
The Log In fund, managed by Theoreim, has invested an unspecified sum to acquire the 9,705sqm asset, located in the Katowice economic zone in Tychy, Upper Silesia.
The asset, comprising warehouse, production and office space, is let on a 20-year triple net lease to BOS Automotive Products Polska.
Principal created the Log In fund in 2022 in partnership with French alternative investment manager Theoreim. Principal serves as the fund’s investment and asset manager, with a plan to increase the fund’s exposure to the industrial, logistics, data-centre and life-sciences sectors by targeting assets in the €5m to €25m lot size range.
The latest purchase is Log In’s 16th acquisition and expands its portfolio to include a fifth European country alongside existing deals in the UK, Italy, Spain and Germany.
Guillaume Masset, head of transactions and asset management for Europe at Principal Asset Management, said: “This 16th acquisition reflects Log In’s desire to expand its pan-European development, with entry into the Polish market via an asset located in the heart of a region renowned for its economic dynamism.
“With a long-term lease and occupied by a leading tenant, this investment strengthens our exposure to promising and resilient markets.”
Romain Welsch, president of Theoreim, said: “This first acquisition in Poland illustrates our desire to deploy our real estate strategy in European industrial areas with solid fundamentals. By investing in a high-quality asset, leased to a long-term key player, Log In is continuing its development by targeting sustainable locations with strong potential.”
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