A fund managed by CBRE Global Investors has announced the acquisition of “Ideal Idea” logistic and office business park located in Warsaw for around €32 million. The vendor was an investment fund managed by BPH Towarzystwo Funduszy Inwestycyjnych S.A. (BPH TFI SA).
The property is located in Zone I of Warsaw’s logistic market and comprises approximately 20,200 sqm of warehouse space and 10,400 sqm of office space. There are 14 tenants in the centre, including Solid Group, Wincor-Nixdorf and Baltona.
Commenting on the acquisition, Martin Sabelko, Head of Central Eastern Europe, CBRE Global Investors said: “We are very pleased with the acquisition of Ideal Idea logistic centre in Warsaw. This is already the third acquisition of CBRE Global Investors in Warsaw Zone I location within the last 24 months. We are developing our business within the industrial sector and we are delighted to have secured this investment for one of our funds.”
Richard Everett, Fund Manager, CBRE Global Investors added: “The Ideal Idea is perfectly located in the most stable logistic hub in Poland. This is our third acquisition in this location, after the purchase of Warsaw Distribution Centre in December 2012 and Manhattan Distribution Centre in November 2013. The property fits the investment criteria of the Fund and will add synergy to our existing portfolio in Zone I. I believe the acquisition of Ideal Idea will contribute to the performance of the Fund and meets the requirements of our investors.”
Linklaters, CBRE Building Consultancy and EY advised CBRE Global Investors. DTZ and Jara & Partners advised BPH TFI SA.