European logistics developer Panattoni has finalized the sale of a 33,000 m2 logistics centre in Uniejów, Poland, developed on a build-to-suit (BTS) basis.
LCN Capital Partners (LCN), a European private equity firm specializing in sale and leaseback and build-to-suit transactions, has acquired its fourth facility within the K-Flex manufacturing campus from Panattoni.
The collaboration between Panattoni, LCN and K-Flex – a global producer of flexible insulation and acoustic materials – has been ongoing for nearly 10 years, encompassing 100,000 m2 of production and warehouse space. As part of the K-Flex campus, the developer provided six buildings, four of which were funded by LCN Capital Partners – a private equity investor active in North America and Europe.
'We are proud to be able to support K-Flex at a critical moment in the market, when the importance to operate from efficient, state-of-the-art facilities built to the highest environmental standards is greater than ever,' said Ward Stocker from LCN Capital Partners.
Pawel Piasecki, Executive Director, Panattoni BTS added: 'I am thrilled to have cooperated with LCN Capital Partners on yet another BTS forward funding transaction. This deal confirms a strong interest in BTS buildings leased to one tenant over a long term. It also confirms the attractiveness of investment structures where all the commercial terms are pre-agreed and known in advance, especially in current turbulent times in the financial markets.'
