Pan-European investor M7 Real Estate has purchased a logistics warehouse near the strategically located city of Wroclaw, Poland.
Financial details were not disclosed. Private developer Eurologis was the seller in the transaction. The building is named Eurologis Logistics Center.
It comprises 21,500 m2 of warehouse and office space near major highways connecting capital city Warsaw and central Poland, in the region of lower Silesia.
M7 made the purchase as part of its €120 mln Polish Active Fund (M7 POLAF). Recent investments by the fund include three office buildings in the country.
Jan Kuzak, owner and CEO of Eurologis, said: 'We decided to sell the park mainly from the need to obtain funds for financing new projects. We are pleased that Eurologis Logistics Center is in the right hands. I’m sure that an experienced partner such as M7 Real Estate will take care of its further development.’
Warehouse space in the city of Wroclaw has grown by more than 240% in the past 10 years, hitting 1.85 mln m2 last year. The city is an important industrial, logistics and commercial centre in Poland.
AXI IMMO advised Eurologis on the transaction.
Damian Kinczyk of AXI IMMO said: ‘This attractive location in the vicinity of Wroclaw is one of the most dynamically developing warehouse markets in Poland, with an extensive road infrastructure and proximity to the borders with Germany and the Czech Republic. It allows for effective national and international logistics.
'These advantages attract more and more investors and tenants to this region, who in the case of Eurologis investments are high-quality, large brands with long-term lease agreements.’