The portfolio includes seven projects, totaling more than 200,000 sqm of lettable space, as well as 70,000 sqm of investment land located in Mysłowice (Upper Silesia), Stryków (Central Poland) and Robakowo (near Poznań).
Mo Barzegar, Logicor’s general director, said the portfolio will be added to the company’s European platform. “This transaction is making it possible for Logicor to move forward with its expansion in the region and to strengthen our connections with local clients,” he said.
The seller, Standard Life Investments, appeared to hint it was looking for alternatives to Poland for warehouse investments. “The transaction makes it possible for us to increase our investments into assets with greater potential, located on markets where recovery is pushing rents up, as demand from tenants is already picking up,” said Andrew Jackson, fund director of Select Property Fund at Standard Life Investments. (source: cijjournal.com)