A joint venture (“JV”) between Partners Group, a leading global private markets firm, acting on behalf of its clients (“Partners Group”), an investment manager Peakside Capital Advisors AG (“Peakside”) with a group of additional third-party co-investors has acquired a portfolio of warehouse properties. The purchase price is not being disclosed.
The portfolio is located in and around Warsaw and will represent approx. 150,000 sqm of modern logistics space once repositioned. The JV is planning to refurbish and redevelop the properties to create high-quality, efficient logistics and warehouse space with robust ESG credentials. The facilities are ideally located to serve the needs of occupiers from the e-commerce sector, which is underpinned by strong structural tailwinds. The JV aims to grow the new platform by acquiring further logistics assets for sustainable (re-)development.
Rahul Ghai, Managing Director and Co-Head Private Real Estate Europe at Partners Group, said: “We see a strong thematic investing opportunity in Polish warehouse properties, which is underpinned by the growing demand for urban logistics assets serving e-commerce that facilitate the delivery of smaller and more fragmented orders with shorter delivery times.”
Lucas Krupp, Private Real Estate Europe at Partners Group, adds: “We look forward to working on our value creation plan, which will focus on raising sustainability standards across the portfolio. We also continue to monitor for further investments in the logistics space across the CEE region.”
Roman Skowroński, Managing Director of Peakside Capital Advisors in Poland, said: “Some time ago, we made the decision to expand our business model in Poland, setting out to build a portfolio of warehouse and industrial properties. The acquisition of this portfolio marks our first step into the broader industrial market in Poland to complement our other activities in Europe.”
Once redeveloped, partly densified and upgraded, the three sites will have a total GLA of nearly 150,000 sqm. The assets will be rebranded and include
City Point Targówek, a logistics park at 14 Matuszewska Street in the Warsaw district of Targówek
Logistics Point Raszyn, a logistics park at 10 Sokołowska Street in Raszyn
Logistics Point Piaseczno, a facility at 13 Raszyńska Street in Piaseczno
Peakside will be responsible for the asset management and development of the properties.
Construction work on the City Point Targówek is about to start. The existing buildings will be demolished to create a modern, highly sustainable, multi-tenant logistics park. All new facilities are to receive BREEAM excellent certifications. The park is located only 9 km from Warsaw’s city centre, making it a destination of choice for parcel service providers and other occupiers seeking urban logistics space. It will feature small business units, space to accommodate light production, built-to-suit facilities and modern office space. The park will be re-developed over several stages to offer 90,000 sqm of space upon completion.
Works to refurbish the existing buildings at Logistics Point Piaseczno and Logistics Point Raszyn are slated for a later date. Logistics Point Raszyn offers two warehouses with a combined GLA of 31,000 sqm. It is conveniently located near an exit of the S8 expressway, just 15 km southwest of Warsaw city centre. Logistics Point Piaseczno will be expanded to provide 25,000 sqm of GLA in two facilities. The park is located close to national road 79 and the Nowa Iwiczna railway station, only 16 km south of the capital’s centre.
In the transaction, the JV was advised by lawyers Marta Bijak-Haiduk, Jan Bagatela, Konrad Bisiorek, Dominik Górski and Dominika Sulak-Seyfried. Other advisory services were provided by Deloitte, Gleeds and JLL.