Blackbrook Capital has acquired a 100,000m² Class-A logistics facility in Poland. The transaction price was not disclosed. Located in Poznan, one of the core logistics markets in Poland, the facility is 100% leased to a global e-commerce player subject to a long-term net lease. Panattoni, the largest industrial developer in Europe, delivered the distribution centre in 2014. The facility benefits from a large land parcel providing substantial manoeuvring space and expansion potential, as well as state of the art logistics specifications with good environmental credentials. The purchase price was in line with the replacement cost. The tenant, a global e-commerce player, maintains a strong market position in German e-commerce sales. It is expected to continue its growth trajectory benefitting from both the secular shift towards e-commerce, as well as the tailwinds from COVID-19 that have positively impacted online retailers.
Arvi A. I. Luoma, Co-Founder & CEO of Blackbrook, said: “This asset represents a strategic facility in the tenant’s European distribution network. Situated in close proximity to the German border, the facility services a massive regional area, including Berlin, and has a large workforce on its doorstep. The asset matched our investment criteria closely – a tenant with strong credit rating, a mission-critical site, attractive real estate fundamentals, a long-term lease and located in an established European logistics market we know and understand well. This also marks a significant investment for Blackbrook, as our largest since we launched in March 2020. Closing on such a major investment during this challenging market environment is a testament to our team’s ability to execute efficiently and satisfy the requirements of our counterparties, whilst meeting our own investment objectives and adhering to our strict underwriting criteria. We look forward to working with real estate advisors, corporate tenants, developers and other participants in the European market as the real estate industry recovers in the face of the crisis.”
