Panattoni Europe, the leading industrial real estate developer in Poland, has reported selling three projects to Standard Life Investments. The transaction concerns 87,000 m² and is worth 56 million.
Robert Dobrzycki, the Managing Partner of Panattoni Europe for Central and Eastern Europe commented: "The sale of following Panattoni Europe facilities to yet another investment fund, Standard Life Investments, is evidence of a strong strategic portfolio set up by us in Poland. This is also our contribution in increasing the attractiveness of the Polish real estate market, which is becoming more and more appealing to foreign investment funds."
Panattoni Europe and Standard Life Investment's cooperation reaches beyond the sale transaction. The Select Property Fund, one of the funding bodies within the UK asset manager's structure, has acted as the financial partner in the years 2007/2008, when the aforementioned projects were carried out.
What is more, earlier this year Panattoni Europe and Standard Life Investments successfully sold five schemes located in Lodz, Pruszkow and Poznan to European Property Investors Special Opportunities, L.P. (EPISO), a fund co-advised by AEW Europe and Tristan Capital Partners, for 91 million.
Source: Panattoni Europe