French fund manager Paref Gestion has acquired an industrial asset in Malopole near Warsaw from logistics developer 7R.
Financial details were not disclosed.
The purchase of the Man Truck & Bus Center marks the Polish debut of the Interpierre Europe Centrale fund, managed by Paref. The asset comprises 2,510 m2 of gross leasable area, across a servicing area with car wash and 2-storey office space.
It is fully leased to Man Truck & Bus Polska – the sales and service division of the Volkswagen group vehicles manufacturer.
The property is located at 3 Graniczna Street in Malopole, about 35 km from the centre of Warsaw, in the immediate vicinity of the S8 connecting several Polish major cities from North-East to South-West directions.
Anne Schwartz, managing director of Paref Gestion, said: 'We are very pleased with this first acquisition in Poland for our new fund - SCPI Interpierre Europe Centrale.
'Man Centre in Malopole is a property greatly matching the investment criteria of the fund – asset with recognized tenant, with long lease agreement, in attractive location. We aim to build up a portfolio of high quality assets which will generate attractive income.'
The Interpierre Europe Centrale fund was created in September 2020 and it is targeting logistics and office real estate assets located in Central Europe, with a particular focus on Polish, Czech and Hungarian markets.
The seller was represented by Avison Young's investment team throughout the transaction.
7R was also advised by SSW, while Dentons provided legal advisory to the buyer.