Logicor, Blackstone’s European logistics platform and a leading operator of modern facilities in Europe, acquired a portfolio of six prime logistics assets totalling 200,000 sq m in Poland and the Czech Republic from Pramerica Real Estate Investors. Cushman & Wakefield has represented the buyer.
The assets are: Panattoni Park Czeladź, Panattoni Park Krakow, Panattoni Park Gliwice, Panattoni Park Błonie, Stolica Business Centre Łazy and Panattoni Park Prague Airport. The properties are almost fully let, and key occupiers include: Amazon, DSV, Saint-Gobain, UPS, CEVA, Huhtamaki, Nagel, Rohlig, and Hellman.
Mo Barzegar, Chief Executive of Logicor, said: “We are very pleased with the acquisition of this high-quality, well-located portfolio which will be integrated into Logicor and our existing Central European operations platform. Logicor is growing strongly and this acquisition will enable us to further increase our operating efficiency and widen our customer relationships.”
Soren Rodian Olsen, Head of Polish Industrial Investments at Cushman & Wakefield, added: “This is the largest logistics portfolio to close in CE this year, providing evidence that Polish and Czech industrial real estate continues to be a highly desired asset class. We anticipate the 2014 Polish investment volumes will exceed 2013, both the industrial segment as well as the total.”
The assets will be integrated into Logicor, Blackstone's European logistics platform. Logicor is one of the premier real estate companies in Europe focusing on the operation of modern logistics and distribution properties. Logicor currently owns over 4 million square metres of space in properties across key markets in seven countries.