Panattoni, Europe’s largest developer and deployer of institutional capital in the industrial and logistics real estate sector, has sold its fully-leased Silesia East logistics park near Katowice in the south of Poland, to Palmira Polska Sp. z.o.o, the Polish subsidiary of Frankfurt-headquartered investor and asset manager Palmira Capital Partners. The 32,000 sqm Grade A complex is part of a major logistics hub around Katowice, the capital of the Silesia region, which borders the Czech Republic and Slovakia and lies at the heart of the industrial and manufacturing centre of Central and Eastern Europe.
The park is located close to the S1, A1 and A4 motorways, providing access to a catchment of 11 million people in Germany and Poland within a two-hour drive. Two international airports in Poland - Katowice and Kraków - are just 20 and 35 minutes away respectively by car, while Ostrava International Airport in the Czech Republic is a one-hour drive.
Karina Trojańska, Chief Financing & Operating Officer at Panattoni, said: “Investor appetite for modern logistics properties with high sustainability credentials in the Polish market remains robust and this park in Silesia ticks all the boxes. It has an exceptionally high BREEAM excellent rating and aims to be net carbon zero by 2025.”
Aleksandra Bis, Head of Palmira Asset Management Poland, added: "We are delighted to enlarge our Polish portfolio with this acquisition, especially in such a challenging year. Further investments are on the way."
Panattoni Park Silesia East features 10-metre clear heights, parking spaces for 134 cars and three trucks, 52 truck dock levellers and floor loading capacity for 50 kilonewtons per square metre. It is 100%-leased to five tenants – electronics manufacturer Bitron, automotive company Toyota, logistics supplier Antwerk, Dorel, the owner of brands including Maxi-Cosi children’s car seats/pushers, and scaffolding specialist PlusEight. Bitron accounts for 42% of the total.
Panattoni has developed eight of the 12 logistics parks in the surrounding logistics hub, good for a total of 516,000 sqm. Within in that hub, Amazon is a major tenant occupying the 130,000 sqm at Panattoni Amazon.
CMS acted on behalf of Panattoni on the transaction. Palmira was advised by Dentons (legal and tax) in Dusseldorf and Warsaw, Drees & Sommer (technical), and Nova-Ambiente (environmental). JLL Poland acted as broker.
The parties agreed not to disclose the value of the transaction.