PropertyEU - February 7, 2008
Pramerica Real Estate Investors has acquired two logistics centres in Poland on behalf of its open-ended fund TMW Immobilien Weltfonds from European logistics company Raben Group. The Polish investment team of Jones Lang LaSalle, which acted for Raben, described the dual deals as the 'first institutional quality sale-and-lease-back transactions' in Poland for the logistic sector.
JLL said the centres, totalling 70,500 m2, are strategically located in Gadki (near Poznan) and Grodzisk Mazowiecki (near Warsaw) on the main TIR routes. A 10-year lease was signed by Raben for 100% of the premises. Poland-based Raben carried out the transaction to generate additional financial means for expansion. Raben operates in Estonia, Holland, Germany, Latvia, Lithuania, Poland and Ukraine. It has over 260,000 m2 of warehousing space spread across a network of terminals in Europe.
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