Generali Real Estate has acquired a core logistics asset in Poland on behalf of its pan-European logistics fund.
The manager paid an undisclosed sum to 7R to purchase the fully leased 7R Park Kraków IX in Kokotów on behalf of the Generali Real Estate Logistics Fund (GRELF).
This is the second transaction in the logistics segment in Poland that Generali Real Estate concluded with 7R this year, after acquiring a warehouse complex in Gdansk.
The GRELF fund targets quality logistics assets in well-established areas with excellent accessibility, in major European logistics hubs.
Pierre-David Baylac, head of logistics at Generali Real Estate, said: “We are delighted to continue our European expansion in logistics, carried out through our dedicated pan-European fund GRELF, with this second opportunity in Poland.
“We are also delighted to cooperate again with 7R, following the acquisition of the Gdansk park this summer.”
With more than one billion euros of assets under management in logistics, at the end of 2021 “our portfolio of logistics assets in France, Italy and Poland will be expanded by 145,000 m², with existing assets or assets to be delivered in 2022 “, said Baylac.
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