Prologis and Invesco Real Estate (IRE), the global real estate investment manager, have announced that Prologis European Properties Fund II (“PEPF II”) has solely acquired a high-quality logistics facility in Poland from IRE’s flagship pan-European open-ended strategy.
Renamed Prologis Park Stryków II, the facility comprises 50,000 sqm and is 100-percent leased to Castorama. It is located 18 kilometres southwest of Lodz city centre and 2 kilometres from the intersection of the A1/E75 highway (Gdansk-Vienna) and the A2/E30 highway (Berlin).
The transaction follows the first acquisition by PEPF II from Invesco Real Estate of two logistics facilities in Poland and Hungary, totalling 94,200 sqm, in July.
“This acquisition is a unique opportunity to purchase a premium-quality asset,” said Ben Bannatyne, managing director, Prologis Central and Eastern Europe. “This facility complements PEPF II’s existing portfolio and meets rising demand for well-located logistics infrastructure in Poland.”
Tomas Picha, Director, CEE Transactions at Invesco Real Estate, said: “The successful sale of Castorama confirms the continued demand among institutional investors for core assets in Poland. This demand, combined with our active management of our client‘ s investment objectives, meant the timing was optimal for us to sell this outstanding asset. However, we continue to have a strong interest in the region on behalf of our existing investment mandates.”
Invesco Real Estate was represented by Colliers International, who was retained to market the property for sale, and legal advisor Norton Rose Fulbright. Clifford Chance law firm represented Prologis.