Savills Investment Management has acquired the A2 Warsaw Park logistics centre in Adamow, near Grodzisk Mazowiecki. The property was purchased from Invesco Real Estate, a global real estate investment manager, on behalf of Savills IM European Logistics Fund 3 (ELF3), which already owns 11 investments across Europe. This is the fund’s largest transaction in Europe and one of Savills IM’s largest investments in the Polish commercial real property market.
Completed in 2020, the unit is one of the largest multi-let warehouse buildings in the country, offering over 106,000m² of flexible and modern warehouse and office space under one roof. A2 Warsaw Park has been designed for both storage and light production use and meets the most modern technical requirements. The building has been awarded a BREEAM certificate on the Good level and is fully leased on long-term contracts. With a total investment volume of €112.5m, Savills IM’s portfolio of assets under management in Poland now exceeds €1.6bn.
Piotr Trzcinski, Head of Investment Poland at Savills Investment Management said: “We are pleased to add this prime unit to our portfolio, in particular, that the investment appetite for the property was remarkable. The property fits well to the fund’s concept, created around investing in multi-use modern logistics units in Europe‘s key liquid markets with above-average growth potential, quality covenants on long term lease commitments and ESG enhancement potential. As a result of this transaction, the value of ELF3 investments in Europe has increased to c. €470m. We actively deploy capital for best-in-class logistic products across Europe that meet return expectations of our investors."
Petr Sramek, Director, CEE Transactions at Invesco Real Estate commented: “Having exceeded our business plan early for our European value add investors, we are delighted to deliver a quality logistics asset to Savills Investment Management and to the Polish logistics market. A2 Warsaw Park project, due to its size and prominent location, attracted strong demand from both good covenant tenants as well as international investors. Our European value add programme continues to invest in this key sector, with a number of urban logistics developments currently in progress around the country.”