September 15, 2014

Prologis acquires 230,000 sqm in Central Europe

Prologis acquires 230,000 sqm in Central Europe

Prologis European Properties Fund II (“PEPF II”) has acquired a portfolio of around 230,000 sqm in the Czech Republic, Poland and Slovakia.

The portfolio encompasses 23 Class-A distribution centres, including: 17 properties totalling 163,000 sqm in Prague, Czech Republic. Prologis Park Prague-Rudna is located on the D5 highway, with direct connection to Germany and proximity to Prague International Airport.

Four properties totalling 55,400 sqm in Warsaw, Poland - Prologis Park Warsaw-Zeran is located near the Warsaw city center east of the A2 highway, a key regional transport route; and two properties totalling 11,600 sqm in Bratislava, Slovakia. These facilities are adjacent to Prologis Park Bratislava and include 7.8 ha of land with a build-out potential of 38,400 sqm of logistics space.

“We are pleased to acquire such well-located logistics facilities at a discount to replacement costs,” said Philip Dunne, president, Prologis Europe. “These high-quality assets complement our existing portfolio. The Prague assets, in particular, are in a long-established park that will benefit from an increase in labour availability in the years to come.”

JLL real estate agency advised Prologis on this transaction.

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