Frankfurt-headquartered investor and asset manager Palmira Capital Partners has acquired the fully leased Silesia East logistics park near Katowice in southern Poland in a further expansion of its portfolio in the country.
The 32,000 m2 warehouse, developed by Panattoni in 2020 on a site of around 59,700 m2, was purchased from a group of companies invested in Bluehouse Property Fund IV L.P. SIF-SICAV. The parties agreed not to disclose the purchase price.
The Grade A complex is part of a major logistics hub around Katowice, the capital of the Silesia region, which borders the Czech Republic and Slovakia and lies at the heart of the industrial and manufacturing centre of Central and Eastern Europe.
The single building asset has a flexible layout and is suited to both storage and light manufacturing functions. It carries BREAAM Excellent certification and is fully let to five tenants: electronics manufacturer Bitron; automotive company Toyota; logistics supplier Antwerk; Dorel, the owner of brands including Maxi-Cosi children’s car seats/pushers; and scaffolding specialist PlusEight. Bitron accounts for 42% of the total space.
Aleksandra Bis, head of Palmira Asset Management Poland, said: ‘We are delighted to enlarge Palmira’s Polish portfolio with this acquisition, especially in such a challenging year. Further investments are on the way.’
Palmira is active in six European countries where it invests in modern logistics facilities, with or on behalf of third-party investors, managing the properties entrusted to it through the entire value chain.
Karina Trojanska, chief financing & operating officer at Panattoni, commented: ‘Investor appetite for modern logistics properties with high sustainability credentials in the Polish market remains robust and this park in Silesia ticks all the boxes. It has an exceptionally high BREEAM excellent rating and aims to be net carbon zero by 2025.’
Panattoni has developed eight of the 12 logistics parks in the surrounding logistics hub, amounting to a total of 516,000 m2.
Palmira was advised on the legal and tax aspects of the transaction by Dentons in Dusseldorf and Warsaw. Drees & Sommer acted as consultant on the technical details. Nova-Ambiente was responsible for environmentally related matters. JLL Poland acted as broker. The vendor side was advised by CMS.
