Macquarie Asset Management has continued to expand its presence in the logistics real estate sector, acquiring a portfolio of CityFlex properties in Poland from 7R for more than €63 million on behalf of one of its managed accounts.
The approximately 80,000 sqm last-mile logistics portfolio, acquired in several stages since September last year, is comprised of four newly completed assets and two facilities under construction. Occupying prime locations near key urban and industrial centres including Gdansk, Lodz, and Wroclaw, the properties are 100 percent leased and benefit from strong access to key road, sea, and air transport links. All properties have been awarded a ‘good’ or ‘very good’ rating under BREEAM’s sustainable building certification scheme.
The portfolio’s latest investment is a facility in Lodz. Its acquisition, finalised in October, increases Macquarie Asset Management’s footprint in the Polish logistics real estate sector to approximately 480,000 sqm.
Dana Gibson, Co-Head of Macquarie Asset Management’s Real Estate team in Europe, said: “The pandemic has shone a spotlight on the vital role the logistics real estate sector plays in underpinning efficient global supply chains. As the demand for strategically located facilities with strong sustainability credentials continues to grow, we are delighted to continue our partnership with 7R in Poland and to secure this high-quality portfolio.”
Lukasz Jachna, Chief Capital Markets Officer, Member of the Board at 7R, said: “Building the first last-mile logistics network in Poland, which covers all key city locations with 7R’s urban warehouses and partnering with Macquarie is an excellent example of cooperation between capital and development. The alignment of interest between the parties to provide high-quality products in key micro-locations, ensuring they are in line with high ESG standards and meet the expectations of tenants, is always a great strategy to execute. We’re looking to provide more high-end products together with our partner in the near future.”
Macquarie Asset Management and its specialist platforms have been investing in the European logistics real estate sector for 15 years and manage a portfolio of more than 60 properties in Finland, France, the Netherlands, Norway, Poland, Slovakia, Sweden, and the United Kingdom. This includes the PLP platform, which is developing and managing 30 prime logistics real estate properties across the United Kingdom.
Together with its specialist platforms, Macquarie Asset Management has invested €7.4 billion in the logistics real estate sector globally on behalf of investors over the past 10 years. Logistics real estate is a core part of Macquarie Asset Management’s real estate strategy and is expected to grow significantly through the continued evolution of third-party logistics, globalisation, nearshoring and e-commerce.