Savills IM European Logistics Fund 3, has acquired A2 Warsaw Park

by   CIJ News iDesk III
2021-10-12   09:11
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Savills Investment Management, on behalf of Savills IM European Logistics Fund 3, has acquired A2 Warsaw Park, a landmark warehouse unit near Warsaw, from Invesco Real Estate. This is the largest transaction of the fund in Europe and one of Savills IM’s largest warehouse acquisitions in Poland.

• The transaction value of a 106,000 sqm property was EUR 112.5 million.
• With the acquisition of A2 Warsaw Park, the value of assets under management by the firm in Poland has surpassed EUR 1.6 billion.
• The acquisition of A2 Warsaw Park is one of Savills IM’s largest warehouse investments in Poland ever.

Savills Investment Management (Savills IM), an international real estate investment manager, has acquired the A2 Warsaw Park logistics centre in Adamów, near Grodzisk Mazowiecki. The property was purchased from Invesco Real Estate, a global real estate investment manager, on behalf of Savills IM European Logistics Fund 3 (ELF3), which already owns 11 investments across Europe. This is the fund’s largest transaction in Europe and one of Savills IM’s largest investments in the Polish commercial real property market.

The A2 Warsaw Park was developed by Invesco and a prominent logistics partner and is located in Adamów, near the Grodzisk Mazowiecki junction of the A2 highway, 35 km from downtown Warsaw. The property is among the most recognizable logistics units in the country, fronting the A2 motorway and featuring very good visibility and access. Half an hour drive to downtown Warsaw and the location next to a key transport corridor make it a sought-after destination for logistics operations for both the Warsaw and national markets. Completed in 2020, the unit is one of the largest multi-let warehouse buildings in the country, offering over 106,000 m2 of flexible and modern warehouse and office space under one roof. A2 Warsaw Park has been designed for both storage and light production use, and meets the most modern technical requirements. The building has been awarded a BREEAM certificate on the Good level and is fully leased on long-term contracts.

With a total investment volume of EUR 112.5 million, Savills IM’s portfolio of assets under management in Poland now exceeds EUR 1.6 billion.

Savills IM was advised by Wolf Theiss, JLL, KPMG and BNP Paribas. The sellers were represented by Greenberg Traurig, EY, CBRE and AFM.

Piotr Trzciński, Head of Investment Poland at Savills Investment Management said: “We are pleased to add this prime unit to our portfolio, in particular that the investment appetite for the property was remarkable. The property fits well to the fund’s concept, created around investing in multi-use modern logistics units in Europe‘s key liquid markets with above-average growth potential, quality covenants on long term lease commitments and ESG enhancement potential. As a result of this transaction, the value of ELF3 investments in Europe has increased to c. EUR 470 million. We actively deploy capital for best-in-class logistic products across Europe that meet return expectations of our investors.

Petr Sramek, Director, CEE Transactions at Invesco Real Estate commented: “Having exceeded our business plan early for our European value add investors, we are delighted to deliver a quality logistics asset to Savills Investment Management and to the Polish logistics market. A2 Warsaw Park project, due to its size and prominent location, attracted strong demand from both good covenant tenants as well as international investors. Our European value add programme continues to invest in this key sector, with a number of urban logistics developments currently in progress around the country.”