7R acting in a joint venture with US investment company InSite Real Estate has divested BWI Group’s research and development centre in Balice, Poland. The property has been acquired by the REICO CS LONG LEASE. The value of the transaction is approximately €27.3m. The BWI Group’s R&D centre, developed by 7R in Balice, has 11,000m² of laboratory and office space and is BREEAM-certified at Very Good level. It consists of two environmentally friendly, interconnected buildings, built in 2020. The sole tenant of the property is BWI Group, a global automotive suspension parts design and manufacturing company.
"The BWI Group research and development centre is secured on a long term lease. The acquisition is a major milestone in expanding the REICO ?S LONG LEASE fund and a clear message for shareholders and business partners on what to expect from the fund in the future," said Tomas Jandík, Chairman of the Board of Directors of REICO IS CS.
The asset divested by 7R is located in an attractive location in the Małopolska Region, in the immediate vicinity of Kraków Airport, approximately 1 km from the A4 freeway, linking the country with Germany to the west and Ukraine to the east. The center of Kraków is approximately 20 km away and is easily accessible by various means of transport.
"The just sold BWI Group’s building is characterized by exceptional lease stability and green solutions. With this project, we show that a zero-carbon future is possible. We know that investors are looking for high-quality products that provide profit in the long term and, what’s very important, meet ESG standards. This is the case of BWI Group’s new headquarters in Balice. We are pleased that such a unique project will expand the portfolio of REICO CS LONG LEASE fund," commented Lukasz Jachna, Chief Capital Markets Officer, Member of the Board at 7R.
"In 2021, we have sold 17 projects worth almost €400m. We are proud that our construction strategy focusing on innovations and aligned with ESG criteria fits into the business models of international investors such as REICO CS LONG LEASE," said Tomasz Kostrzewa, Senior Investment Director at 7R.
