Elite Partners Capital has completed an off-market acquisition of a warehouse in Radomsko, Poland for close to €30 million. This marks the firm's third purchase within a span of six weeks, after announcing acquisitions in UK and Netherlands.
The asset is located in Central Poland, being in the immediate vicinity of the A1 motorway, national roads DK 42 and DK 91, as well as key railway junctions. It is the first facility within "LOOGIC Park Radomsko" logistics park which will eventually house 11 warehouse halls totalling 380,000 sqm over 80 hectares of land.
The warehouse provides a total usable area of approximately 54,000 sqm and achieved an 'Excellent' BREEAM certification. It was constructed by FB ANTCZAK, a Polish general contractor, as a Built-to-Suit facility for JYSK, a big box retailer of household goods. JYSK is the largest Danish retailer operating internationally with over 3,000 stores in 48 countries globally. The warehouse is used primarily for high-volume storage and is strategically located near the main JYSK Distribution Center. This allows JYSK to distribute goods efficiently and lower transport costs, ultimately having a positive effect on the environment through the reduction of CO2 emissions.
This is the first Polish acquisition for the second series of EPC's Logistic Funds. "Following our recent string of successful investments, we are pleased to announce the acquisition of the Polish warehouse facility that is fully let to JYSK," said Mr Victor Song, CEO of Elite Partners Capital. "We are no stranger to the Polish market and have forged trusted relationships on the ground. Because of this, we are able to efficiently source for select opportunities that provide attractive returns even in today's volatile market."
For this transaction, DLA Piper (Legal) advised Elite Partners Capital and AXI IMMO Group acted for the vendor.
