European Property Investors Special Opportunities, L.P., a fund co-advised by AEW Europe and Tristan Capital Partners, has completed the purchase from Panattoni Europe and Standard Life Investments of five warehouses in Poland for approximately 91 million. The assets, built between 2007 and 2009 and located in Lodz, Poznan and Pruszkow, total around 170,000 m² and are multi-let to over 18 separate tenants with occupancy at 100%.
Peter Mather, Director in Investments at AEW Europe added: "These are assets of institutional quality in good core locations. The portfolio is 100% let which illustrates the strength of the asset we have selected for the EPISO fund. Linking up with Panattoni on the asset / property management and leveraging off their reach and reputation in the Polish logistics market was also a key driver for us on the transaction."
JLL Poland provided market advice to the EPISO fund. Salans advised the EPISO fund on legal issues and Clifford Chance advised Panattoni Europe and Standard Life Investments.
Source: Bellier Financial