Griffin Real Estate and Redefine Properties sell two logistic properties in Stryków – EuropaProperty

Griffin Real Estate, acting on behalf of Redefine Properties, has concluded the sale of two A-grade logistics warehouse buildings totaling 77,660 sqm of GLA and development land suitable for construction of an additional warehouse of 22,407 sqm GLA in Stryków, Poland. The buyer in the deal valued at EUR 51.8 million was a UK-listed Investment Trust Tritax EuroBox Plc.

The Stryków property was a part of the European Logistics Investment’s portfolio, a platform, co-managed by the 7 percent minority co-investor Griffin Real Estate, a leading investment manager in CEE, and Panattoni Europe, a market-leading European logistic developer. In January 2020, the investment of Madison International Realty in 46.5 percent of Redefine’s equity stake in European Logistics Investment was announced. The sale of Stryków to Tritax EuroBox is a precursor to the introduction of Madison as an equity investor into ELI.

Stryków was ELI’s first development, with construction having started in the second half of 2018 and completed in February 2019. It is one of Poland’s largest logistics markets and is situated close to Łódź in Central Poland.

A law firm Linklaters and a tax adviser MDDP acted as the seller’s adviser on the deal.