Union Investment acquired a new logistics building in the Polish town of Września, around 50 km east of Poznań. The acquisition will be added to the holdings of the institutional fund UII Garbe Logistik Fonds. The seller is a Netherlands-based online retailer vidaXL. The parties have agreed not to disclose the purchase price.
“Poznań benefits from excellent infrastructure. The A2 motorway connects the location with Warsaw and Moscow in the east, and with Berlin and Dublin in the west. The Łódź motorway intersection also provides easy access to north and south Poland and to the Czech Republic and Slovakia. In addition, the number of skilled workers in the area is relatively high”, said Stephan Riechers, Head of Logistics Investment at Union Investment.
“Thanks to its central position in Poland, Poznań is the ideal location for online retailers like vidaXL who operate across Europe. The property is set to become vidaXL’s main returns centre. It will play an important strategic role in the retailer’s supply chain,” commented Cedric Mallmann, Investment Manager Logistics CEE at Union Investment.
Completed in August 2022, the logistics facility offers over 130,000 sqm of rental space, with offices accounting for around 2.5 percent of the total. It is fully let to vidaXL Logistics Services for ten years. The property has a BREEAM rating of “Very Good”.
Union Investment was advised by Dentons, cmT, Thedy & Partners, Grant Thornton and 3stone Real Estate.
The UII Garbe Logistik Fonds was jointly launched by Union Investment and GARBE Industrial Real Estate in 2020. It is an institutional fund that invests in European logistics real estate. GARBE Industrial Real Estate will handle the fund’s lettings, property management and asset management via its integrated platform while taking care of the investment management together with Union Investment.
Union Investment’s European logistics portfolio is currently worth around €3.7 billion and comprises 71 properties in Germany, France, Poland, Austria, the Netherlands, Ireland and Switzerland.