Tritax EuroBox has sold a logistics property in Łódź, Poland to Savills Investment Management for €65.5 million.
The 100,000 sq m asset is leased to French DIY and home improvement supplies retailer Castorama on a 6.7-year term.
Savills IM said the deal is the second acquisition on behalf of the Vestas European Strategic Allocation Logistics Fund (VESALF I), the pan-European logistics investment fund it launched in partnership with Vestas Investment Management in November 2020.
VESALF I is among the first ‘blind’ funds raised solely from Korean institutional investors to invest in European real estate, and targets core/core-plus logistics assets across all key European markets. The fund was seeded with a new 115,000 sq m unit leased to DSV in Tholen, the Netherlands, acquired late last year.
VESALF I was represented in the transaction by JLL, Dentons, PwC and BNP PRE.
“We expect to see Poland continue to be a highly attractive market for logistics investment for the remainder of the year and beyond, supported by strong liquidity and robust occupier fundamentals,” said JLL head of capital markets Tomasz Puch.