Invesco Real Estate sells Polish and Hungarian assets to Prologis
Invesco Real Estate (IRE), the global real estate investment manager, is pleased to announce the opportunistic sale of a portfolio of two assets in Central and Eastern Europe on behalf of two investment mandates to Prologis European Properties Fund II (“PEPF II”).
The portfolio comprises a Tesco Logistics Facility in Gliwice, Poland and the Auchan Budapest-Ullo Warehouse in Hungary, both fully-let assets on long-term leases.
Tomas Picha, Director of Transactions for Invesco Real Estate in the CEE Region commented: “The successful sale of the portfolio confirms the continued demand among institutional investors for core assets in Poland, as well as the growing interest in the Hungarian market. This demand combined with our active management of our client‘s investment objectives, meant the timing was optimal for us to sell these two outstanding assets. However, we continue to have a strong interest in the region on behalf of our existing investment mandates.”
The Tesco Logistics Facility is a 56,700 sqm building located in Gliwice, Upper Silesia. The property, which is located in the proximity of the A1 and A4 motorway junctions, is fully occupied by Tesco.
The Auchan Budapest-Ullo Warehouse is a 37,500 sqm logistics building in Budapest, Hungary, located in the vicinity of the National Airport and the M0 ring road, 30 kilometres from the Budapest city centre. The Property is fully occupied by Auchan.
Invesco Real Estate was represented by Colliers International, who was retained to market the portfolio for sale and Norton Rose Fulbright, who was the legal advisor regarding the Polish asset.