Macquarie Asset Management has expanded its logistics real estate portfolio with the acquisition of CityFlex properties in Poland from 7R for more than €63 million on behalf of one of its managed accounts.
The approximately 80,000m2 last-mile logistics portfolio, acquired in several stages since September last year, is comprised of four newly completed assets and two facilities under construction.
Occupying prime locations near key urban and industrial centres including Gdansk, Lodz, and Wroclaw, the properties are 100 per cent leased and benefit from strong access to key road, sea, and air transport links. All properties have been awarded a ‘good’ or ‘very good’ rating under BREEAM’s sustainable building certification scheme.
The portfolio’s latest investment is a facility in Lodz. Its acquisition, finalised in October, increases Macquarie Asset Management’s footprint in the Polish logistics real estate sector to approximately 480,000m2.
Dana Gibson, Co-Head of Macquarie Asset Management’s Real Estate team in Europe, said: “The pandemic has shone a spotlight on the vital role the logistics real estate sector plays in underpinning efficient global supply chains. As the demand for strategically located facilities with strong sustainability credentials continues to grow, we are delighted to continue our partnership with 7R in Poland and to secure this high-quality portfolio.”
Lukasz Jachna, Chief Capital Markets Officer, Member of the Board at 7R, said: “Building the first last-mile logistics network in Poland, which covers all key city locations with 7R’s urban warehouses, and partnering with Macquarie is an excellent example of cooperation between capital and development. The alignment of interest between the parties to provide high-quality products in key micro-locations, ensuring they are in line with high ESG standards and meet the expectations of tenants, is always a great strategy to execute. We’re looking to provide more high-end products together with our partner in the near future.”