7R has finalized the divestment of 7R Park Kraków IX logistics building to Generali Real Estate. The 33 000 sqm warehouse, commissioned for use in the middle of the year, is fully leased and BREEAM-certified at the Very Good level. This is the second transaction between Generali and 7R in 2021 following Generali Real Estate’s acquisition of 7R Park Gdańsk II warehouse complex in Kowale, in September 2021. The price has not been disclosed.
At the beginning of December, Generali Real Estate, acting on behalf of the pan-European fund "Generali Real Estate Logistics Fund" (GRELF), managed by Generali Real Estate S.p.A SGR, finalized the acquisition of 7R Park Kraków IX in Kokotów. The fund's first logistics acquisition in Poland concerned another complex of developer 7R, 7R Park Gdansk II in Kowale.
7R Park Kraków IX is part of the biggest logistic park in the developer's portfolio, 7R Park Kraków located in Kokotów. The complex consists of 10 facilities with a total area of over 245,000 sqm. Building IX covers 33,600 sqm and is fully leased. Answear.com (which also occupies space in other buildings in the park), ESA Logistika and Styler all have their respective operations in the complex.
"We are pleased to continue our European expansion in Logistics, executed through our pan-European dedicated fund GRELF, with this second opportunity in Poland. We are also delighted to cooperate with 7R again this year, following the acquisition of the Gdansk park this summer. With more than € billion Logistics assets under management, at the end of 2021 our portfolio of Logistic assets in France, Italy and Poland will be 145,000 sqm bigger, with existing assets or to be delivered in 2022. With a solid pipeline, we continue our expansion in the coming years in our target countries", says Pierre-David Baylac, Head of Logistics at Generali Real Estate.
7R Park Kraków is distinguished by its good location and access to key infrastructure. The proximity of the S7 expressway and the A4 freeway as well as convenient access to public transport guarantee excellent connections for both companies and employees.
"We are pleased that Generali Real Estate has once again chosen our park to expand its logistics real estate portfolio. The attractiveness of 7R’s buildings that have been delivered to the market over the past 13 years, is underpinned by the superior quality of these facilities, for instance in terms of energy efficiency, as well as excellent locations and environmentally friendly solutions. These are key elements, important for tenants, employees as well as investors", says Łukasz Jachna, Chief Capital Markets Officer, Member of the Board at 7R.
In the sale of 7R Park Kraków IX, the developer was advised by Allen & Overy, while the buyer’s advisors were Dentons and BNP Paribas.
The first facility within 7R Park Kraków was commissioned for use in 2015. The investment is located in Kokotów near Kraków in the Wieliczka Economic Activity Zone.
