Global real estate investment manager EQT Exeter has acquired a portfolio of five industrial assets in Poland from a joint venture between Tristan Capital Partners’ EPISO 4 fund and White Star Real Estate.
Financial details were not disclosed, however the Tristan and White Star JV acquired the 160,000 m2 portfolio in December 2018 From Oz Real Estate for €86 mln.
The platform consists of five assets located in Warsaw, Poznan, Wroclaw, Gdansk and Czeladz, and was comprehensively relet by Tristan and White Star.
James Brodie, managing director, portfolio and asset management at Tristan, said: 'The Polish industrial sector has seen strong growth in recent years. We have seen tremendous resilience in the industrial market throughout the last couple of years, with little sign of deal flow slowing.
'This robust market performance has allowed us to achieve our goals for this asset ahead of schedule and deliver a positive result for the fund’s investors.'
Bartosz Szewczyk, managing partner, Poland, White Star Real Estate, said: 'Throughout the JV’s tenure, we have benefited from exponential growth in the Polish logistics market.
'With the market seeing its single best quarter in its history in Q1 2021 with a gross take-up of 1.6 million m2, it is clear that warehouse real estate continues to remain highly competitive in Poland as a means of capital investment.
'Our tenants appreciate the conveniently located, high-quality, modern industrial spaces in which we offer. Together with Tristan, we have been consistently responding to their business needs which resulted in us re-letting over 60% of the portfolio.'
Tristan and White Star were advised by Dentons, PwC and JLL.
