Saturday, August 15, 2020
Home News Investment Market Tristan Fund acquires Polish logistics portfolio of five assets for €86 million

Tristan Fund acquires Polish logistics portfolio of five assets for €86 million

The EPISO 4 opportunity fund advised by Tristan Capital Partners, and White Star Real Estate have acquired a portfolio of five institutional quality warehouses in some of the most established logistics locations in Poland from a US-based real estate private equity investor for around €86 million.

Kristian Smyth, Director at Tristan Capital Partners, said: “Despite substantial development of new logistics warehouses in Poland in recent years, demand continues to outstrip supply resulting in a sharp fall in vacancy rates and a slow increase in net effective rents. We expect these robust market fundamentals to continue on the back of buoyant Polish economic growth, and we are focused on expanding our Polish logistics footprint.”

The five warehouses range from 16,000 sqm to 40,000 sqm, covering 161,689 sqm of gross lettable area in total and are currently just over 90% let. The assets are categorised as “urban logistics” reflecting their short driving distance to major cities, enabling them to provide an attractive balance for occupiers looking for lower rents relative to “last mile” warehouses while still offering close proximity to city centres.

Tristan’s operating and equity partner for the logistics portfolio is White Star Real Estate, which has an extensive track record in Central and Eastern European markets. The EPISO 4 fund’s advisors on the transactions included Dentons, JLL, Arcadis and E&Y. Financing was provided by pbb Deutsche Pfandbriefbank as Agent and Lender.

Most Popular

M7 acquires Katowice office building for new CEE fund

M7 Real Estate has undertaken its first acquisition on behalf of M7 CEREF II, its value-add opportunities fund focused on offices and...

Metropol Group acquires five shopping centres in Poland

Greenberg Traurig advised Metropol Group on the acquisition of a shopping centre portfolio, consisting of five regional convenience stores is located in...

Weerts Group to start new warehouse development near Budapest

The logistics sector of Hungary is booming with foreign investors continuing to be optimistic about the market outlook. The latest evidence of...

Panattoni sells two city logistics parks in Warsaw to LaSalle

Panattoni and Marvipol have sold two city logistics parks in Warsaw to LaSalle Investment Management. The facilities, totalling nearly 25,000 sqm, were...