Palmira Capital Partners (Palmira) has acquired another property for the European Core Logistics Fund (ECLF), in Gliwice, southern Poland. The vendor is a fund advised by Crescendo Real Estate Advisors. The parties have agreed not to disclose the purchase price.
The last-mile logistics property, at Bojkowska Street 65, Gliwice, was constructed in 2014. Standing on asite of approximately 27,680 square metres, the asset provides a lettable area of around 8,000 square metres. 7,000 square metres of this is warehouse and distribution space, with around 1,000 square metres of office, staff and building services acommodation. The property is fully let to DPD Polska Sp. z o. o., a leading last-mile logistics service provider.
Aleksandra Bis, asset manager in charge at Palmira, explains: "With this transaction, we are delighted to have acquired another excellent core property and to have DPD, a globally leading logistics company, represented in our portfolio. We already have plans for further acquisitions."
Palmira was advised on the legal and tax aspects of the transaction by Dentons, Dusseldorf and Warsaw. Drees & Sommer acted as consultant on technical details. Nova-Ambiente was responsible for environmentally related matters. JLL’s Polish team also acted in an advisory capacity. The vendor side was advised by Leucosia Capital LLP and PwC.