Generali Real Estate has completed the acquisition of 7R Park Gdansk II, a core logistics park in Poland, located in Kowale, Gdansk area, on behalf of the European fund, Generali Real Estate Logistics Fund (GRELF). The seller of the asset is 7R SA.
Financial details were not disclosed.
7R Park Gdansk II was developed and completed in 2021 and provides modern, well-specified logistics accommodation, which is suitable for a wide range of logistics occupiers. The park is fully let to primary tenants such as InPost, Dot2Dot and Rohlig Suus.
The logistics park is a complex comprising three buildings: one cross-dock and two modern warehouses, offering in total 52,000 m2 of lettable area. The asset will soon be BREEAM certified.
Pierre-David Baylac, head of logistics at Generali Real Estate, commented: 'Leveraging on the consolidated experience in logistics in France and Italy, where we have been a long-lasting player active since mid-2000, with this operation we are now expanding into the Polish logistic market. Our logistic portfolio is mainly composed of parks in strategically-located distribution hubs, and the project in Gdansk perfectly fits in.'
Generali's ambition is to continue expanding in Europe on a wide range of supply chain asset, from XXL to Cross Dock and Urban Logistics, targeting high-quality assets, added Baylac.
The operation confirms the Generali Real Estate commitment to the logistics segment and marks the firm's first logistics acquisition in Poland.
GRE was advised by Clifford Chance, Deloitte, Gleeds, ELREP, ARC Capital and CBRE.