ARTICLES LABELLED WITH TAG logistics

Total demand on the Budapest industrial property market amounted to 212,750 sqm in Q2 2017, which is the highest quarterly volume ever on record. The Budapest Research Forum published its quarterly industrial market analysis.

M7 Real Estate has acquired a portfolio of 11 light industrial assets in Hungary and the Czech Republic, on behalf of M7 CEREF I, from a joint venture between Partners Group and Cromwell Property Group. The portfolio comprises 209,832 sqm, with seven of the assets located in Hungary and the remaining four in the Czech Republic.

Prologis announced that its 33,700 sqm build-to-suit facility for Czech sports retailer Sportisimo at Prologis Park Prague-Rudna is the first logistics facility in the Czech Republic and only the second such building in Central and Eastern Europe to receive BREEAM’s highest accreditation rating.

Real estate funds managed by Blackstone have agreed to sell their pan European logistics company, Logicor, to affiliates of China Investment Corporation (CIC) for €12.25 billion.  Logicor owns and operates a portfolio of high-quality logistics assets totalling 147 million square feet, in 17 countries with over 70% concentrated in the UK, Germany, France and Southern Europe.  

Panattoni Europe announced the sale of Panattoni Park Warszawa–Konotopa, located in the Warsaw region. The multi-tenant logistics centre comprises two buildings totalling close to 50,000 sqm and is fully leased. After the sales transaction is completed, Panattoni Europe will retain responsibility for managing the park. 

With the sale of its 51% holding in the Aerozone logistics park to M7 CEREF I in Budapest, CA Immo has completed the strategic withdrawal from the logistics segment that began in 2012. Over the past few years, almost 500,000 sqm of logistical space in total has been sold in Poland, Romania, Hungary and Germany. 

Prologis announced that it has signed two new lease agreements totalling 12,100 square metres at its second speculative development at Prologis Park Prague-Airport. The park is now 100-percent leased.

Diófa Asset Management has purchased the South Pest Business Park from Wing Zrt. The new owner is Magyar Posta Takarék Property Investment Fund, which is Hungary's second largest domestic open-ended fund. The city logistics scheme, located in the 9th district, is 90% occupied.  The South Pest Business Park was transacted for app. €29.1 million (HUF9 billion).

P3 has completed the first two warehouses at P3 Prague D11, developed partly on a Build-to-Suit basis for Exiteria and FM Logistic, comprising a total of 60,000 sqm. The warehouses are among the largest buildings planned for the park and account for over a third of its total size.  The rest of the site can accommodate eight further warehouses ranging from 3,000 sqm to 26,000 sqm. After completion, P3 Prague D11 will provide a total of 155,000 sqm.

GIC, Singapore’s sovereign wealth fund, has completed the purchase of P3, one of the leading pan-European owners, developers and managers of logistics properties, from TPG Real Estate and Ivanhoé Cambridge. The deal, which values the business at €2.4 billion, was first announced in November 2016, but had to be approved by EU regulators before it could be finalised. It is one of the largest European real estate transactions of 2016.