Logicor acquires six assets in Poland and Czechia

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Logicor, Blackstone's European logistics platform and a leading operator of modern facilities in Europe, has acquired a portfolio of six prime logistics assets, totalling 200,000 sqm in Poland and the Czechia from Pramerica Real Estate Investors. Cushman & Wakefiled has represented the buyer.

The assets are: Panattoni Park Czeladz, Panattoni Park Krakow, Panattoni Park Gliwice, Panattoni Park Blonie, Stolica Business Centre Lazy and Panattoni Park Prague Airport. The properties are almost fully let and key occupiers include: Amazon, DSV, Saint-Gobain, UPS, CEVA, Huhtamaki, Nagel, Rohlig and Hellman.

Mo Barzegar, Chief Executvie and President of Logicor said:

We are very pleased with the acquisition of this high-quality, well-located portfolio which will be integrated into Logicor and our existing Central European operations platform. Logicor is growing strongly and this acquisition will enable us to further increase our operating effciciency and widen our customer relationships.

Soren Rodian Olsen, Head of Polish Industrial Investments at Cushman & Wakefield, added:

This is the largest logistics portfolio to close in Central Europe this year, providing evidence that Polish and Czech industrial real estate continues to be a highly desired asset class. We anticipate the 2014 Polish investment volumes will exceed 2013, both the industrial segment as well as the total.

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