Polish Logistics LLP, a new investment vehicle established by industrial specialist IO Asset Management and Warsaw-listed Reino Capital, with the backing of UK privately-held group Grosvenor, has completed its first investment with the purchase of a major logistics park in the centre of Poland.
Polish Logistics acquired Logistic City in Piotrków, south of Lodz, from a private investor for an undisclosed amount.
Logistic City comprises 135,000 m2 of built and leased space and development land, with potential for a further 300,000 m2 of build-to-suit space. The built space comprises four units, let to seven tenants. The main tenant, occupying half of the space, is Jysk, the Danish retail chain.
Polish Logistics was advised by Savills and Linklaters and the vendor was advised by Axi Immo.
Polish Logistics intends to expand its portfolio through the acquisition of both standing investments and land for build-to-suit developments. ‘The logistics market in Poland is particularly attractive due to its location, size and growth potential,’ commented Angus Scott-Brown, managing partner of IO Asset Management. ‘The joint venture with Reino Capital is an excellent combination of experience and local competences, which are essential for the acquisition of new investment opportunities and the delivery of value to our investors.’
‘We are ready to significantly expand our logistics portfolio within the coming months, as we have identfied several investment opportunities,’ added Dorota Latkowska, CIO of Reino Partners, the asset management company of Reino Capital.
