Panattoni, Europe’s largest developer and deployer of institutional capital in the industrial and logistics real estate sector, has sold to Trigea Nemovitostní Fund, the real estate investment vehicle of the Czech-based Partners Group, for the acquisition of its fully-leased Panattoni Tricity North logistics park. The 46,000 sqm Grade A property is Panattoni’s fifth logistics park in Tricity, and the first in the vicinity of Gdynia, the port city on the northern Baltic coast of Poland.
Tricity is a metropolitan area in Pomeranian Voivodeship comprising three cities located on the Gdańsk Bay - Gdańsk, Gdynia, and Sopot. It has easy access to two major pan-European transport corridors connecting Scandinavia with Southern Europe as well as countries bordering on the Baltic Sea including Lithuania, Latvia and Estonia.
Robert Dobrzycki, Panattoni CEO and co-owner Europe and India, said: “Our successful sale of this well-located standing asset demonstrates the continuing strong investor appetite for modern logistics properties with high sustainability credentials in the Polish market. The Tricity region is the largest port centre and one of the most economically developed regions in the country.”
Panattoni Tricity North park features a high number of docks, ground-level access gates, spacious service yards, as well as energy-saving and environment-friendly solutions, compliant with the requirements of a BREEAM ‘Good’ certification. The facility is located just over 20 kilometres from the airport and only eight kilometres from the deep-water container terminal in the Port of Gdynia.
Ing. Tomáš Trčka, Chairman of the board of Trigea Nemovitostní Fund, SICAV, a.s., said: “This is our second investment in Poland and demonstrates our conviction in the strength of the country’s logistics market and Tricity’s attractiveness as a destination for international institutional investors.”
Panattoni was advised by DLA Piper and Albaluna Investments sp. z o.o. Cushman & Wakefield assisted the buyer alongside Arcadis, Baker McKenzie, and Greenberg Traurig Nowakowska-Zimoch Wysokiński sp.k.
The parties agreed not to disclose the value of the transaction.