Investment manager CBRE Global Investors has acquired two standing and two to-be-developed Grade A logistics facilities in Poland, on behalf of the CBRE logistics venture, from local developers 7R.
Financial details were not revealed.
Located at 7R Beskid Park in the Bielsko-Biala region of Poland, the standing assets are let to international and national tenants including Raben, DPD and Martes Sport with an average remaining lease term of 5.2 years. Buildings C and D are due to be completed by Q3 2019. All four assets will have BREEAM ratings.
'The acquisition further highlights the effectiveness of CBRE Global Investors’ business model of partnering closely with local operators and developers with a reputation for market quality and reliability,' said Philip Dunne, head of logistics EMEA, CBRE Global Investors.
CBRE Logistics Venture has a ‘build to core’ strategy and invests in prime logistics assets located in key logistics locations close to major cities or strategic transportation corridors across Europe.
'Beskid Park meets the requirements of the venture by adding value through managed development risk,' Dunne added.
The 57,499 m2 prime assets are located in the Silesia submarket.