Logistics and industrial property specialist Panattoni has completed the €160 million sale of a portfolio of five logistics parks in Poland.
The assets, which are all fully let, have a total area of 230,000 sq m and have been acquired by a North American real estate investment manager.
Three of the logistics parks are located in Warsaw one close to the airport and two in the west of the city.
A fourth is located in Poznan East and another is near the city of Radom in central Poland, 100 km south of Warsaw.
“Although the economic outlook is not so shiny anymore, industrial is still one of the real estate asset classes continuing to attract strong interest from investors,” said Robert Dobrzycki, Panattoni CEO & Co-Owner Europe.
”The recent sharp rise in construction costs and the inflation indexation of rents make standing income-producing properties a very attractive proposition for investors.”
Warehouse investment transactions worth €1.7 billion were completed in Poland during the first quarter of 2022. This was lower than the previous three-month period but was the third-largest start
CBRE has also predicted that the average Polish industrial and logistics transaction yield of 4.35% at the end of the first quarter will remain stable in coming months.