NBGI spends EUR 75m on logistics in CEE

NBGI Private Equity has struck four logistics deals in Poland and the Czech Republic worth a total of EUR 75 mln. The investments were made on behalf of NBGI's Real Estate Fund.

The European private equity and venture capital investment firm has bought a 28,000-m² logistics facility in Mys³owice from Credit Suisse Asset Management. The property is let to ITM Logistique, the logistics company of supermarket retailer Intermarche, on a long term basis.

In Torun, NBGI has purchased Panattoni Park Torun, a 30,300 m² logistics property leased to Cereal Partners Poland Torun-Pacific, from Standard Life Investments' Select Property Fund.

A 16,010-m² warehouse property in Grodzisk was also bought from vendor Invista European Real Estate Trust.

In the Czech Republic, the investor has made its first investment with the acquisition of Panattoni D5 Logistics Park, a 62,000 m² logistics and industrial park, from Standard Life Investments' Select Property Fund. Major occupiers include Lear Corporation, Leoni Neumatic and ASA Abloy.

'These acquisitions meet our investment strategy of buying Class A logistics assets with long-term leases to first class tenants,' said James Huckle, investment director at NBGI. 'In contrast to economic uncertainty in much of Europe, Poland and the Czech Republic have shown healthy economic growth recently with improved road infrastructure and increased demand for logistical services.'

NBGI Private Equity manages around EUR 900 mln from offices in London, Paris, Athens, Istanbul, Sofia, Warsaw and Bucharest.