Polish Logistics, an investment vehicle established by UK urban logistics specialist iO Asset Management and Poland’s Reino Capital, has expanded its portfolio with the acquisition of five prime logistics parks in Poland from AEW.
The vehicle managed by Reino iO Logistics is backed by international property company Grosvenor Group’s Indirect Investment team. Financial details were not disclosed.
The five logistics parks, which are located in Lodz, Poznan, Sosnowiec, Bielsko-Biala and Rzeszow, provide 208,992 m2 of space and are let to 28 tenants including, Hutchinson, Omega Pilzno, Damco and Pekaes.
‘The portfolio provides a critical mass of purpose-built multi-tenanted logistics parks in prime locations throughout Poland. It offers strong geographic diversification in five established logistics markets and attractive granularity of income,’ commented Angus Scott-Brown and Dorota Latkowska, joint managing partners of Reino iO Logistics.
He added: ‘The logistics market in Poland is attractive due to its location, size and growth potential. Its strategic location and ability to serve the whole of Western and Eastern Europe, its occupational costs that are some of the lowest within developed countries in Europe, its rail link to China and access to deep seaports make it a compelling market for us.’
The acquisition of the portfolio is the second investment by Polish Logistics. It follows the purchase in June 2020 of Logistic City in the established logistics location of Piotrków, south of Lodz. Logistic City comprises 135,000 m2 of built and leased space and development land with the potential for a further 300,000 m2 of build-to-suit space.
Polish Logistics was advised by CBRE and Dentons; AEW was advised by JLL and Allen & Overy. Debt financing was provided by BNP Paribas Bank Polska.
