7R has finalized the sale of a portfolio of several projects to CTP Group. The portfolio includes projects in the development phase, such as in Warsaw and Katowice, as well as others throughout Poland which are in the pre-development phase.
"In 2021, we sold 17 projects to institutional investment funds and international real estate companies for a total amount of almost €400 million. When preparing our projects, we always care about creating and ensuring their long-term value, therefore, in addition to a perfect location, we also focus on innovative environmental solutions and compliance with the criteria of sustainable development. I am glad that CTP Group chose our projects to develop its logistics portfolio in Poland. This has significantly strengthened our capital abilities and enables us to actively pursue the next stage of 7R’s development strategy", said Tomasz Lubowiecki, founder and CEO of 7R.
Bogi Gabrovic, Deputy Country Head for CTP Poland, said: “The land and project acquisitions from 7R demonstrate CTP’s long-term commitment to the Polish market. In line with our strategy, and when the time is right, this transaction offers the potential to significantly increase the size of our operational footprint in central Europe’s largest economy. With its low penetration of e-commerce and the high investment by corporates in manufacturing facilities, we believe that Poland continues to offer attractive growth potential for logistics and industrial real estate over the longer term.”
Piotr Flugel, Country Construction Director for CTP Poland, said: "The strategically located land sites acquired by CTP from 7R, which are mostly in and around Warsaw and the Upper Silesia region, benefit from strong surrounding infrastructure and are well prepared for development. CTP has also agreed to acquire developments currently under construction in Katowice and Mszczonow, south of Warsaw. These locations will complement the existing network of three CTParks in Poland at Iłowa, 40 km from the Polish-German border; Opole located between Katowice and Wroclaw in the south of the country and Zabrze close to Katowice. None of CTP’s Polish parks, covering over 42,000 sqm in total GLA, currently have space availability."
CTP is continental Europe’s largest owner, developer and manager of logistics and industrial real estate by gross lettable area, listed on the Amsterdam Stock Exchange since 2021. The portfolio acquired from 7R consists of projects in the pre-development and development phase. They are located in Central and Northern Poland as well as in Silesia.
Since the beginning of its operations, 7R has completed projects with a total area of almost 1.5 million sqm. Currently, 7R has more than 4 million sqm in the investment process in various locations throughout Poland. The first project out of Poland is to start in the Czech Republic in Q4 this year.
Legal advisers for the transaction were White & Case for the purchaser and Linklaters for the seller.
