Singapore-headquartered Elite Partners Capital (EPC) has completed an off-market acquisition of a warehouse in Radomsko, Poland for close to €30 mln.
The deal marks the firm's third purchase within a span of six weeks, after announcing acquisitions in UK and Netherlands.
The asset is well-located in Central Poland, standing in the immediate vicinity of the A1 motorway, national roads DK 42 and DK 91, as well as key railway junctions.
It is the first facility within the Loogic Park Radomsko logistics park which will eventually house 11 warehouse halls totalling 380,000 m2 over 80 ha of land.
The warehouse provides a total usable area of approximately 54,000 m2 and achieved an Excellent BREEAM certification. It was constructed by FB Antczak, a Polish general contractor, as a built-to-suit facility for JYSK, a big box retailer of household goods.
This is the first Polish acquisition for the second series of EPC's logistic funds.
'Following our recent string of successful investments, we are pleased to announce the acquisition of the Polish warehouse facility that is fully let to JYSK,' said Victor Song, CEO of EPC.
'We are no stranger to the Polish market and have forged trusted relationships on the ground. Because of this, we are able to efficiently source for select opportunities that provide attractive returns even in today's volatile market,' Song added.
Elite Logistics Fund II continues to focus on building a portfolio of high-quality logistics warehouse or infrastructure across Europe and the UK.
For this transaction, DLA Piper (Legal) advised EPC and Axi Immo Group acted for the vendor.
