Coffee with Craig Show – daily CRE news covering the CEE region, Thursday, July 07 with Winston Norman, Editor and Chief of EuropaProperty.com.
Panattoni completes €160 million portfolio sale of five logistics parks in Poland
Panattoni has completed the €160 million sale of a portfolio of five fully-let logistics parks in Poland covering a total of 230,000 sqm GLA, to a North American real estate investment manager.
Three of the logistics parks are located in Warsaw; one close to the city’s airport and two in the west of the Polish capital. A fourth is situated in Poznan East, strategically located between Warsaw and Berlin on the A2 highway, and another is near the city of Radom in central Poland, 100 km to the south of Warsaw.
Robert Dobrzycki, Panattoni CEO & Co-Owner Europe, said: “Panattoni has completed the sale of these five fully-let logistics parks in Poland to a major global real estate investment manager after their development completion on schedule and to budget. Although the economic outlook is not so shiny anymore, industrial is still one of the real estate asset classes continuing to attract strong interest from investors.”
Panattoni remains very confident in the long-term prospects for Poland’s industrial and logistics real estate market. “There are many reasons to be upbeat including the continuing strong trend towards ‘nearshoring’ following the disruptions to global supply chains, the low penetration of e-commerce relative to Western European markets and the ongoing appetite of international companies to set up manufacturing facilities here due to Poland’s low-cost, skilled labour force and large domestic market,” Robert Dobrzycki added.
Trei launches PRS investment in Poland
Trei Real Estate Poland, an international developer of commercial and residential real estate, has started the implementation of its first investment in Poland in the PRS (Private Rented Sector). The estate located in Poznań is set to be ready in 2025. The developer plans to build 450 apartments, which will be available in the institutional lease formula.
“The process of relocation of the Biedronka supermarket is the first step that will bring us closer to the implementation of the main part of the multi-stage PRS investment in Poznań. At the beginning of next year, we plan to start the construction of the first phase of the complex. As part of this stage, we will build two buildings that will provide a total of over 300 apartments for rent,” commented Jacek Wesołowski, Managing Director of Trei Real Estate Poland.
“In Poznań, we are preparing a pilot investment in the PRS sector, in which we plan to develop our business. However, we will not give up building apartments for sale. We have experience in this market, our investments have achieved very good sales results, and we have also built a very good team. In these two sectors, we will build simultaneously,” summed up Jacek Wesołowski.
BPI Real Estate launches new investment in Poznań
BPI Real Estate Poland is expanding its portfolio of residential investments in Poznań. The latest project from the Belgian developer will be built in an attractive area, perfectly connected to the city centre, which is becoming more and more popular on the local real estate market. The offer for sale includes 272 apartments.
The investment consists of two buildings – the first is L-shaped and has 8-10 storeys, and the second, a 17-storey building is rectangular. Between the buildings, there is a courtyard with small architecture, greenery and a playground for children.
The BPI Real Estate Poland investment is financed from the developer’s funds. This is the second project from the company in Poznań. In 2020, BPI Real Estate Poland completed the implementation of the ecological Vilda Park. All flats in the investment have been sold.
The general contractor is CFE Polska, which belongs to the same capital group as BPI Real Estate Poland.
Completion of the construction of the investment is planned for the fourth quarter of 2024.