LogiCor, Blackstone’s European logistics platform and a leading operator of modern facilities in Europe, announced on 4th July the acquisition of a portfolio of six prime logistics assets totalling 200,000 m² in Poland and the Czech Republic from investors advised by Pramerica Real Estate Investors.
The assets are Panattoni Parks located in Czeladź, Krakow, Gliwice, Park Błonie and Prague Airport, and Stolica Business Centre Łazy. The properties are almost fully let, and key occupiers include Amazon, DSV, Saint-Gobain, UPS, CEVA, Huhtamaki, Nagel, Rohlig, and Hellman.
ING Bank Śląski S.A. initially closed a first term loan on 6th May 2014 for €92.3 million to finance Blackstone’s acquisition of 3 Polish logistics assets from Standard Life Investments Select Property Fund. The loan facility was further expanded after LogiCor acquired 6 further assets (5 in Poland and 1 in the Czech Republic). An increase up to €174 million has been fully underwritten by ING who acted as Mandated Lead Arranger, Account Bank and Agent. That loan closed on 1st July 2014. Nordea Bank Polska S.A. has joined the financing shortly thereafter as Arranger providing €75 million ticket.