Italian asset and fund manager Generali Real Estate has acquired 7R Park Gdańsk II in Gdańsk-Kowale on behalf of its pan-European Generali Real Estate Logistics Fund (GRELF) from Polish industrial developer 7R for an undisclosed sum.
7R Park Gdańsk II, which was completed this year, comprises 52,000 sqm of leasable space in three buildings – one cross-dock and two warehouses – and is fully leased to such tenants as InPost, Dot2Dot and Röhlig Suus. The complex is soon to receive BREEAM certification.
"Leveraging on our consolidated experience in logistics in France and Italy, where we have been a long-lasting player active since mid-2000, with this transaction we are now expanding into the Polish logistics market. Our logistics portfolio is mainly composed of parks in strategically-located distribution hubs, and this project in Gdańsk perfectly fits into that. Our ambition is to continue expanding [our portfolio] across Europe into a wide range of supply chain assets, from XXL to cross dock and urban logistics, targeting high-quality assets. In this respect we are delighted to work with 7R, which has developed in recent years an impressive track record of top quality assets and parks across Poland", said Pierre-David Baylac, the head of logistics at Generali Real Estate.
Łukasz Jachna, Head of Capital Markets at 7R, said: “Warehouse facilities in Pomerania are an important part of our portfolio. One of them is 7R Park Gdańsk II in Kowale, which is already fully leased. No wonder that the facility built according to 7R high ecological standard and equipped with advanced technology has attracted a large investor to Poland. We are pleased that Generali Real Estate has trusted our quality. It’s another investor for whom the acquisition of our industrial park is the first step of expansion in Poland. We are sincerely convinced that our high green building standards and efforts towards sustainable urban architecture are reflected in investor purchases.”
GRE was advised by Clifford Chance, Deloitte, Gleeds, ELREP, ARC Capital Markets and CBRE, while 7R was advised by Colliers and Linklaters.
At the end of June 2021, GRE managed a portfolio in the CEE region valued at around €1.3 bln. 7R has completed 870,000 sqm of warehouse and industrial space across Poland and currently has more than 1.6 mln sqm in the pipeline.
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