Austrian listed property Group Immofinanz has sold the Bokserska distribution park in Warsaw and the Westpoint distribution park in Prague for just over €33 mln as part of its strategy to exit the logistics sector in Central Europe.
Austrian listed property Group Immofinanz has sold the Bokserska distribution park in Warsaw and the Westpoint distribution park in Prague for just over €33 mln as part of its strategy to exit the logistics sector in Central Europe.
The Westpoint park was sold to Central Group, a Czech investor, while Bokserska went to UK & European Investments, a family office from the UK.
'These two transactions reflect our strategic exit from the logistics sector in Poland and the Czech Republic. Our investments in the Czech Republic are now concentrated in the retail and office asset classes. In Poland, we currently hold two other logistics properties that are designated for sale over the medium-term,' commented Immofinanz's CEO Eduard Zehetner.
He added: 'Our focus for the development of logistics properties lies on the core markets of Germany, Romania and Russia.'
The Bokserska distribution park offers roughly 17,500 m2 of total space. Constructed in 2001, it is fully rented. Westpoint was built in the 1970s, and provides nearly 64,000 m2 of total space.
