The parks occupy strategic locations in Poland – Warsaw (Panattoni Park Warsaw North, Panattoni Park Warsaw South), Silesia (Panattoni Park Silesia I), Poznan (Panattoni Park Poznań VIII) and Szczecin (Panattoni Park Szczecin II). Following the transaction, Panattoni will stay on as the facility manager at all the properties included in the portfolio.
The disposal by Panattoni reflects current market trends, particularly the interest from Asian investors in Central and Eastern Europe. According to Robert Dobrzycki, CEO Panattoni Europe: - “Investors’ appetite for logistics and industrial assets continues to grow across Europe, and particularly in Poland given its economic and locational advantages. For Panattoni, this is a very important portfolio deal as we have managed to put together (with our various investors) one of the best portfolios of logistics parks in key markets. Additionally, and not for the first time, when selling our projects, we are staying on as facility managers.”
The transaction also commended Jon Crossfield, Head of Strategic Partnerships in Europe from Savills Investment Management: - “We are delighted to have advised the Asian investor on their first acquisition in continental Europe and achieving an important first step in building a large, diversified pan-European logistics portfolio. We look forward to building on it in 2020 and are already considering a number of opportunities in other countries. The acquisition meanwhile takes our assets under management in Poland to over EUR 1.3bn, with a further EUR 250m in exclusivity in the country.“