26 March 2019
The distribution warehouse, completed in 2017, has 37,000 sq m of rental space. It is located at an established logistics location in Upper Silesia in the south of Poland. The S1 expressway provides a good connection to central Poland and the A4 east-west motorway. The property is fully let to six different companies. With this first investment in Poland, ELF 2 is now invested in a total of six European countries. Another Polish property has already been secured and will complete at the end of March.
Daniel Hohenthanner MRICS, Director Investment at Savills IM, says:
"The distribution warehouse meets the latest standards and convinces above all with its flexibly divisible rental space - ideal conditions for follow-up lettings. The property thus fits perfectly into the strategy of our logistics fund and contributes to further diversification. Poland is increasingly developing into an important logistics hub for international e-commerce players. The demand for logistics space is growing continuously and the logistics location Upper Silesia has great growth potential. From an investor's point of view, the location is particularly attractive due to the still relatively cheap space and the high population density, i.e. available potential workforce. These factors are increasingly becoming an obstacle for growth at other locations, for example in Wroclaw and Poznan."
The open-ended special fund ELF 2 is fully placed. It invests in logistics properties with a Grade A property quality in the liquid European core markets. With equity commitments of over EUR 530 million, the fund has clearly exceeded its target. With the acquisition in Poland the fund's portfolio has grown to 15 properties in six countries.
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