ARTICLES LABELLED WITH TAG logistics

Macquarie Asset Management has continued to expand its presence in the logistics real estate sector by acquiring a portfolio of CityFlex properties in Poland from 7R for more than €63 million on behalf of one of its managed accounts. 

MLP Group has released its strategic goals to be met within the next three years to 2024. In line with the strategic plan, the period will see the company’s equity, or net asset value (NAV), double from €387 million in 2021 to €823 million at year end 2024. Significant growth in NAV is expected in 2022, driven mainly by the development of new projects in Germany and Austria, already fully secured.

Panattoni is further developing the warehouse stock of Lower Silesia. Panattoni Park Wrocław XIII is under development next to a junction of the A4 motorway in the village of Pietrzykowice just outside Wrocław and will eventually have an area of 75,000 sqm. Logistics operator Chomar has just leased 15,000 sqm in the park. 

CTP has expanded its cooperation with the logistics company Loxxess s.r.o., which is currently the second-largest tenant of CTP in the Czech Republic. The newly constructed warehouse provides the company with nearly 70,000 sqm of additional space, over and above their existing 45,000 sqm of leased space, was handed over in September. The premises are mainly used for the storage of drugstore goods for dm-drogerie markt.

VGP, a European provider of high-quality logistics and semi-industrial real estate, published a trading update for the first ten months of 2021.

MLP Group has released its consolidated financial results for the first three quarters of 2021, showing revenue of PLN 145.7 million, up 7% year on year. Net profit was PLN 202.2 million, having increased 35% year on year. Equity (net assets) rose more than 27% in the first nine months of the year, to PLN 1.54 billion, with gross investment property having advanced by 25%, to over PLN 2.9 billion.

7R has started the construction of its first warehouse complex in the Kujawsko-Pomorskie voivodship. 7R will build two facilities in the 68,700 sqm 7R Park Bydgoszcz. The investment is already partially commercialized. Among the tenants are logistics operator Rohlig Suus Logistics and supermarket chain Stokrotka.

A 21,000 sqm logistics park is being built in Biatorbágy, near Budapest, along the M1 highway. The LogiCube Park, developed by Defactoring Zrt., will offer sustainable warehouses along with office space, primarily for small and medium-sized enterprises. The first phase of the project, which represents an investment of HUF 1 billion, will start in November this year and is expected to be handed over in the last quarter of 2022.

CTP reported a 92% rise in profit for the first nine months of 2021 to €317.8 million, compared with €165.8 million for the same period of 2020. The company’s strong performance was driven by solid ongoing leasing take up, rental growth and record development valuations from accelerating yield compression in CTP’s core CEE portfolio. The robust financial results are manifested in adjusted EPRA earnings per share year-to-date increasing to €0.38 in 2021 as compared with €0.29 for the same period in 2020. The company has also invested significantly this year in boosting its talent base, attracting new people into senior management roles in country teams and across group functions.

Panattoni has revitalised another brownfield site for investment group Accolade. They have returned industry to a location where it has historically thrived, the former Kavalier glassworks site in Hostomice, in the Teplice region. The first tenant of the new industrial zone named Panattoni Park Teplice South is the Czech sanitary equipment retailer Sanitino. It has started operating a distribution centre, which will gradually serve the whole of Europe. The transformation of a brownfield, with more than a century of glass history, into a modern zone for light manufacturing and distribution of goods, with an investment of more than half a billion, is therefore continuing successfully.