The sale of Panattoni Park Pruszków and Panattoni Park Ożarów logistics parks
Award:
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Investment Deal of the Year, CEE
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Name of deal:
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The sale of two Panattoni and Pramerica projects
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Seller, plus brief information about the company:
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Panattoni Europe and Pramerica JV
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Consultancy which advised Seller:
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CBRE
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Purchaser, plus brief information about the company:
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RREEF Real Estate, the real estate investment management business of Deutsche Bank’s asset and wealth management division
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Consultancy which advised Purchaser:
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Cushman & Wakefield
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| Why this deal should be considered for the award: |
RREEF Real Estate has acquired two logistics parks 17 km west of Warsaw for the open-ended real estate fund Grundbesitz Europa. The properties at Ozarów and Pruszków changed hands for a total of EUR 54 mln and were bought from a joint venture composed of Panattoni and Pramerica. Construction at the Ozarów logistics park was completed in 2010: the site covers an area of 134,000 sqm, with app. 70,000 sqm in leasable space and parking bays for 197 lorries. The Pruszków logistics park was built in 2009: it is 25,350 sqm in area, with 12,580 sqm of leasable space and 64 parking bays. Both properties are already fully leased to thirteen companies from different business sectors. The logistics parks offer cutting-edge technical facilities and complete flexibility for users. “Suitable facilities are scarce, but we have been able to acquire promising logistics sites in the form of theses two parks,” says Ulrich Steinmetz of RREEF.
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