Palmira has acquired a property in Kragola, between Poznan and Lodz, for the European Core Logistics Fund (ECLF). Built in 2014 and tenanted by Eurocash S.A., the asset provides around 38,100m2 of hall space and 1,600m2 of offices. The vendor was Mirae. The parties have agreed not to disclose the purchase price.
Because of this and an earlier acquisition in Belgium, the fund, which had a target volume of €400m, is now fully invested. Palmira ECLF 3, the successor product for European core logistics properties, is slated for launch in spring 2024.
Dentons provided legal advice on the transaction to Palmira, with CBRE providing technical support while Nova Ambiente dealt with the environmental aspects. Cushman & Wakefield brokered the deal.
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Image provided by Targa Communication. Photo credit: © Palmira Capital Partners.
