Jet Industrial Lease has bought a 54,000 sqm portfolio of five industrial buildings in Poland from Vestinlog, part of the KKCG group. The value of the transaction has not been disclosed.
The properties changing hands between the two Czech companies are located in Polkowice (Lower Silesia), Międzyrzec (Lubuskie), Koluszki (Łódzkie), Września (Wielkopolska) and Brześć (Kuyavia-Pomerania). They stand on sites with a combined area of 17,400 ha. The deal also includes an expansion project that will bring the total leasable area of the properties up to almost 61,000 sqm. Another 10–15,000 sqm could potentially be built on the sites
"I am glad that our business plans intersected with the interests of Jet Industrial Lease and we have been able to conclude this mutually beneficial transaction. From the beginning of the investment, we planned to exit at the appropriate time – at the moment when it received an interesting offer. We are still looking for interesting business opportunities in the field of industrial real estate in Europe:", said Petr Pujman, the CEO of KKCG Real Estate Group
KKCG bought the portfolio in November 2018 for €41 million.
All the premises are fully leased, to Benteler, Sanden Manufacturing, Auto Acoustics and Kongsberg Automotive. The latter company occupies the Brześć facility, the location of the above-mentioned expansion project, which after the work will comprise 23,000 sqm including 4,000 sqm of offices.
Jet Industrial Lease is currently in the process of finalising the acquisition of three other projects for around €40 million.
