Arrow Capital Partners has acquired the prime urban logistics asset, Airport House, in Warsaw, Poland for its $3 billion European Strategic Industrial Real Estate (SIRE) platform. The purchase price was not disclosed.
The logistics asset in Warsaw has been sold by M7 Real Estate (M7) the pan-European investor and asset manager, on behalf of PVBRI, a work-out investment vehicle created by M7 and a Polish Bank to stabilise and turnaround a financially challenged portfolio of industrial, office and retail investments.
The 8,610 sq m property, which is fully let with a WAULT of 5.8 years, is situated next to Warsaw Chopin Airport and motorways connecting to major cities such as Lodz, Wroclaw and Poznan. Key tenants include pharmaceutical company, Polski Bank Komórek Macierzystych, and home improvement retailers, Castorama and Kingfisher.
“The acquisition of Airport House is SIRE’s first in the Polish market with others to follow. It is an asset that is excellently located next to Chopin Airport, with high quality tenants and continues our investment in the European urban logistics market,” said Katherine Parker, Partner at Arrow Capital Partners.
”Our team has overcome the challenges caused by the COVID-19 pandemic and the sale is also evidence of continued investor appetite for logistics assets with diversified occupier mixes in attractive locations,” said Katarzyna Parkot, Managing Director, Poland at M7.