Partners Group and Peakside Capital Advisors have completed the purchase of a 5 ha plot on Kinetyczna Street in Okęcie, Warsaw. This exceptional last-mile location, situated near the Chopin Airport and at the intersection between Warsaw’s Southern Ring Road and the S79 exit road, has been earmarked for a sustainable warehouse development dedicated to urban logistics. The transaction was made by the existing joint venture between both parties.
Lucas Krupp, Member of Management, Private Real Estate, Partners Group says: “We are pleased to continue scaling our joint venture with Peakside focused on last mile locations in Poland, which we started with the redevelopment of City Point Targówek. We continue to be selective and focus on exceptional locations suitable for urban logistics developments in Warsaw and other top cities in Poland. This JV reflects Partners Group’s strong thematic convictions in the last-mile and big box logistics sectors across Europe.”
Roman Skowroński, Managing Director, Peakside Capital Advisors in Poland adds: “In the wake of last year’s successful acquisition of a 150 thousand sqm logistics portfolio including the flagship City Point Targówek project, jointly with Partners Group, we decided to extend and broaden our collaboration. We aim to develop projects in premium urban locations within Poland’s major metropolitan areas to complement our existing logistics portfolio. The combination of prime locations and a focus on sustainable solutions is crucial in our pursuit of ambitious projects that promise to deliver significant returns and investment value”.
City Point Okęcie is the fourth asset in the portfolio owned by the joint venture and follows City Point Targówek, Logistics Point Raszyn and Logistics Point Piaseczno. The major redevelopment of City Point Targówek was started earlier this year with the ongoing development of a cross-dock warehouse pre-let to DPD Polska, completion is expected in Q4’2023.
As part of its value-added strategy, the joint venture intends to grow its urban logistics portfolio by looking at the acquisition of development sites as well as existing assets to be upgraded or redeveloped.
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