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  • Home
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  • Invesco Real Estate and JV partner Panattoni complete sale of airport logistics park in Gdansk
Press releases

Published:

14.06.2022

Invesco Real Estate and JV partner Panattoni complete sale of airport logistics park in Gdansk

Invesco Ltd. (NYSE: IVZ), a leading global asset management firm, today announte (Invesco), the company’s global real estate investment business, and its joint venture partner Panattoni, have completed the sale of a Grade A logistics park in Gdańsk.

Published:

14.06.2022

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Invesco Ltd. (NYSE: IVZ), a leading global asset management firm, today announces that Invesco Real Estate (Invesco), the company’s global real estate investment business, and its joint venture partner Panattoni, have completed the sale of a Grade A logistics park with a total lease area of c. 110,000 sqm in Gdansk, Poland, on behalf of its strategic opportunities investment programme. The asset was sold to EQT Exeter. 

Panattoni Park Gdansk Airport sits directly adjacent to Gdansk’s Lech Walesa Airport and includes a Big Box warehouse and four last-mile and cross-dock buildings, making it one of the largest facilities in the region. Located within a unique mix of global freight and transportations nodes, and including c. 4,800 sqm of office space, the park accounts for more than 10% of the entire Tri-city market. Tri-city is a metropolitan area in the north of Poland, comprising Gdańsk and two nearby cities Gdynia and Sopot.

Invesco Real Estate and Panattoni, Europe’s largest deployer of capital and developer in the industrial and logistics real estate sector, acquired the plot in 2020 and substantially developed it to the highest technical and sustainability standards. Four of the five newly constructed buildings qualify as BREEAM Very Good while the first warehouse built at the location has a BREEAM Good label. 

Over the past two years, the park has seen extensive demand from tenants, allowing Invesco Real Estate and Panattoni to lease and sell the final core product within just two years and despite the Covid-19 pandemic. The now completed facility is currently 93% leased, underscoring the strength of the location and attractiveness of the facility.

The Tri-city region has rapidly developed into a key regional logistics hub due to the proximity of Gdansk’s large port and an established Europe-China trade corridor. The economic growth and rising importance of the Central European distribution network was one of the main investment drivers supporting the location.

Petr Sramek, Director, Transactions at Invesco Real Estate, said: “The Polish market continues to experience strong demand for prime logistics properties. This major ttransaction is a testament to the long-term strength of Poland’s real estate market, with international, core investors willing to make new acquisitions in the region despite the conflict in Ukraine and the uncertainty it has created.

We have seen exceptional demand from tenants for this facility in Gdansk and have been able to successfully realise our investment together with our partner Panattoni in a reduced timeframe due to the Polish logistics sector’s highly attractive fundamentals. Thanks to our strong collaboration with all our local partners, we were able to deliver an exceptional return for our investors.” 

Robert Dobrzycki, CEO and co-owner of Panattoni Europe and India, added: “The Polish logistics market is the largest and one of the most mature in Central Europe and the low vacancy rate at this newly completed park in Gdansk illustrates just how strong demand is for prime logistics assets. We will continue to scour the market in our home country for new development opportunities as we accelerate our expansion across Central and Western European markets.”

The completed sale was advised by CBRE, Greenberg Traurig and PwC.

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Panattoni has sold an industrial park in Wrocław

Panattoni has finalised the sale of a centre in Lower Silesia. An international real estate company has purchased Panattoni Park Wrocław West Gate with a total area of 46,900 sqm.

Panattoni BTS and Commercecon together support the establishment of the second Centaurus Foundation centre in Poland to provide a second chance for a thousand more horses and other animals

Panattoni BTS has supported the Centaurus Foundation for many years. Over the 16 years since its establishment, the charity has given a second chance to over 3,000 horses, 1,000 dogs as well as hundreds of cats and other creatures.

Panattoni receives its third BREEAM Outstanding certificate in Poland – its eighth such rating in Europe – for 82,000 sqm in Robakowo constructed without PCVs for H&M

Panattoni has been awarded another BREEAM certificate with a rating of Outstanding for Panattoni Park Poznań A2 (building B). The building was constructed for H&M without the use of PCVs. This is the developer’s third project in Poland and its eighth in Europe to be awarded the highest BREEAM rating.

Panattoni secures EUR 20 mln in financing from mBank for the construction of Panattoni Park Szczecin V

Panattoni has won financing for the development of its latest development in Western Pomerania. The EUR 20 mln loan was granted by mBank. Panattoni Park Szczecin V will comprise 30,000 sqm of which around a third has already been leased to a client from the food and hospitality sector.

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