Savills Investment Management has acquired another logistics unit in Łódź. The property was purchased from Invesco Real Estate, the global real estate investment manager, on behalf of the Savills IM European Logistics Fund 2 (ELF 2), which now owns 26 properties in Europe.
Construction of the 38,269 sqm warehouse was completed in 2017. It is part of the Central European Logistics Hub, in close proximity to the cargo rail terminal Spedcont and the ‘New Silk Road’ connecting European markets with Asia. It is just 30 km from the A1 and A2 highway junction in central Poland and near the intersection of European east-west and north-south routes.
The unit purchased by Savills IM is fully leased on long-term contracts by Whirlpool, a global household appliances company, and Compin, an international manufacturer of seats and interior fittings for public transport.
Piotr Trzciński, Head of Investment – Poland, Savills Investment Management, said: “I am delighted that this high-quality property is part of our Polish portfolio and adds to the geographic diversification of the fund. This is our fifth logistics acquisition in the last eight months and the third in the Łódź market. The warehouse sector’s relative resilience to COVID-19 and its growth prospects make it a desirable component of our investors’ pan-European strategies. Only this year, we have allocated almost €430 million into Polish logistics. ELF 2 and its successor ELF 3 are in the process of further acquisitions, consolidating our position as one of Europe’s largest logistics investment managers, with assets exceeding €4.4 billion.”
Petr Sramek, Director, CEE Transactions at Invesco Real Estate, added: “The Polish market is an important component of our pan-European footprint, with current investments of over €1 billion across 12 assets. The Łódź asset was an exciting value-add project for us; we purchased the land, worked with Panattoni to develop the asset and achieved full lease-up upon completion. Our numerous client mandates regard Poland as a key institutional investment market, whether for core or value-add investments and since 2016 we have developed c. 950,000 sqm of logistics space in Poland and continue to see exciting opportunities in the region.”
In Poland, Savills IM currently manages logistics assets with a total area of over 850,000 sqm and worth over €700 million.
Savills IM was advised by Dentons, DiL, Savills and EY, while Invesco Real Estate was represented by Greenberg Traurig, Gleeds, PwC and AFM.
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