Union Investment acquires logistics property in Poland
Acquisition for the UII Garbe Logistics Fund
Union Investment has acquired a new logistics building in the Polish town of Wrzesnia, around 50 km east of Poznan. The town is situated in one of Poland's most important logistics hubs for online retailers and logistics companies with pan-European operations. The acquisition will be added to the holdings of institutional fund UII Garbe Logistik Fonds. The seller is Netherlands-based online retailer vidaXL. The parties have agreed not to disclose the purchase price.
“Poznan benefits from excellent infrastructure. The A2 motorway connects the location with Warsaw and Moscow in the east, and with Berlin and Dublin in the west. The Lodz motorway intersection also provides easy access to north and south Poland and to the Czech Republic and Slovakia. In addition, the number of skilled workers in the area is relatively high.”
Stephan Riechers, Head of Logistics Investment at Union Investment
“Thanks to its central position in Poland, Poznan is the ideal location for online retailers like vidaXL who operate across Europe. The property is set to become vidaXL’s main returns centre. It will play an important strategic role in the retailer’s supply chain,” said Cedric Mallmann, Investment Manager Logistics CEE at Union Investment.
Completed in August 2022, the logistics facility offers over 130,000 sq m of rental space, with offices accounting for around 2.5 per cent of the total. It is fully let to vidaXL Logistics Services for ten years. The property has a BREEAM rating of “Very Good”.
Union Investment was advised by Dentons, cmT, Thedy & Partners, Grant Thornton and 3stone Real Estate.
The UII Garbe Logistik Fonds was jointly launched by Union Investment and GARBE Industrial Real Estate in 2020. It is an institutional fund that invests in European logistics real estate. GARBE Industrial Real Estate will handle the fund’s lettings, property management and asset management via its integrated platform while taking care of the investment management together with Union Investment.
Union Investment's European logistics portfolio is currently worth around EUR 3.7 billion and comprises 71 properties in Germany, France, Poland, Austria, the Netherlands, Ireland and Switzerland.
For Union Investment Real Estate GmbH