Historic Eko-Okna transaction sparks momentum

 

In April 2025, Polish window manufacturer Eko-Okna completed the largest sale & leaseback deal ever recorded in Central and Eastern Europe. The company sold two logistics properties totaling approximately 264,000 sqm, and immediately leased them back.

The buyer was U.S.-based REIT Realty Income Corporation, underscoring the international trust in Poland’s logistics market. As a result, total investment volume by the end of April reached €1.1 billion — significantly above the figures for the same period in 2024.

It’s not just a reflection of the sector’s attractiveness — it’s a signal to the market that large-scale logistics transactions are back.

 

Logistics leads despite a brief pause

 

By the end of Q1 2025, the logistics sector held the largest share of investment volume in Poland — €202 million, or 29% of the total. Notably, this number does not yet include the Eko-Okna deal, which was finalized in April.

While no other warehouse sales were closed in April or May, industry experts anticipate that transaction activity will accelerate in the second half of the year.

 

"May wasn’t particularly strong in terms of closed deals, but we don’t see it as a slowdown," says Marcin Purgal, Senior Director, Investment at Avison Young.
"Looking at our current sales pipeline, we remain optimistic. We still expect the total volume to exceed €5 billion by year-end — especially if some of the anticipated large-scale logistics or retail deals go through."

 

Portfolios and M&A deals return to the market

 

One of the most notable moves so far this year was the sale of GLP’s logistics portfolio to Ares Management in a global M&A transaction that included assets in Poland. This shows that institutional capital is once again looking for scale, and portfolio-level acquisitions are back on the table.

The market is now watching closely for the next major logistics portfolios and single-asset deals secured by long-term lease agreements.

 

Domestic capital is gaining ground

 

The Polish market is no longer driven solely by international investors. Domestic capital is becoming increasingly visible, accounting for 34% of the number of transactions and 17% of total volume in Q1 2025.

Polish investors — often using cash or low-leverage capital — are focusing on smaller, income-generating assets, including logistics properties. This growing activity is helping boost market liquidity and competition for prime locations.

 

What’s happening in retail?

 

While logistics continues to dominate investor interest, retail assets are quietly gaining traction — especially convenience-based formats and retail parks.

According to Avison Young, investors are closely monitoring the market for dominant shopping centers in mid-sized cities, as well as stable, well-performing retail parks. A number of new transactions are expected to close in the coming months.

 

Conclusion:


Poland’s logistics real estate sector is once again showing its strength. The landmark Eko-Okna deal, the return of portfolio and M&A activity, and the rise of domestic capital all indicate one thing: investors are back — and they’re focusing on stable, long-term value backed by strong tenants and proven locations.

 

source: prestigepr.pl