CBRE Global Investors has announced the acquisition of the Warsaw Distribution Centre logistic and office business park located in Warsaw from Peakside Capital's Polonia Management (PPM) subsidiary. Financial details were not disclosed.
CBRE Global Investors has announced the acquisition of the Warsaw Distribution Centre logistic and office business park located in Warsaw from Peakside Capital's Polonia Management (PPM) subsidiary. Financial details were not disclosed.
The property is located in Zone 1of Warsaw's logistic market and comprises 25,300 m2 of warehouse space and 8,700 m2 of office space. There are 28 tenants in the centre.
The sale follows the completion of PPM’s asset management programme in which a number of new leases were signed over the six-year period in which Peakside held the asset in order to improve it to its current institutional quality.
Commenting on the acquisition, Martin Sabelko, managing director of CBRE Global Investors CEE said: 'We are developing our business within the industrial sector and we are delighted to have secured this first investment in the CEE market.'
Savills and Linklaters advised CBRE Global Investors. Jones Lang LaSalle and Clifford Chance advised Peakside Polonia Management.
