Palmira has acquired a property in Kragola, between Poznan and Lodz, for the European Core Logistics Fund (ECLF). Built in 2014 and tenanted by Eurocash S.A., the asset provides around 38,100 sq m of hall space and 1,600 sq m of offices. The vendor was Mirae. The parties have agreed not to disclose the purchase price.
Because of this and an earlier acquisition in Belgium, the fund, which had a target volume of EUR 400 million, is now fully invested. Palmira ECLF 3, the successor product for European core logistics properties, is slated for launch in spring 2024.
Dentons provided legal advice on the transaction to Palmira, with CBRE providing the technical support while Nova Ambiente dealt with the environmental aspects. Cushman & Wakefield brokered the deal.