Polish Logistics LLP, an investment vehicle established by iO Asset Management and REINO Capital, has expanded its portfolio with the acquisition of five prime logistics parks in Poland from AEW. The vehicle managed by REINO iO Logistics is backed by international property company Grosvenor Group’s Indirect Investment team. The five logistics parks, which are in Lodz, Poznan, Sosnowiec, Bielsko-Biala and Rzeszow, total 208,992m² and are let to 28 tenants including Hutchinson, Omega Pilzno, DAMCO and Pekaes.
Angus Scott-Brown and Dorota Latkowska, joint managing partners of REINO iO Logistics, said: “The portfolio provides a critical mass of purpose-built multi-tenanted logistics parks in prime locations throughout Poland. It offers strong geographic diversification in five established logistics markets and attractive granularity of income. The logistics market in Poland is attractive due to its location, size and growth potential. Its strategic location and ability to serve the whole of Western and Eastern Europe, its occupational costs that are some of the lowest within developed countries in Europe, its rail link to China and access to deep seaports make it a compelling market for us. Completing two transactions during a pandemic year is a testament to all the teams involved. This latest acquisition demonstrates REINO iO’s ability to present international partners with attractive deals, acquire a variety of assets and close deals quickly. This is just the beginning of our active asset management programme, which will include implementing measures to achieve the highest ESG standards across the portfolio”.
Andy Yates, Investment Director, Indirect Investment, at Grosvenor Group, said: “We are delighted to have been able to move as quickly as we did to secure this acquisition opportunity despite the Europe-wide lockdown. We’re looking forward to working with REINO iO to add value to the portfolio and on any future opportunities”.
