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The acquisition of a A2 Warsaw Park

CATEGORY
Investment Deal of the Year, CEE
The A2 Warsaw Park is located in Adamów, near the Grodzisk Mazowiecki junction of the A2 highway, 35 km from downtown Warsaw. The property is among the most recognizable logistics units in the country, fronting the A2 motorway and featuring very good visibility and access. Half an hour drive to downtown Warsaw and the location next to a key transport corridor make it a sought-after destination for logistics operations for both the Warsaw and national markets. Completed in 2020, the unit is one of the largest multi-let warehouse buildings in the country, offering over 106,000 m2 of flexible and modern warehouse and office space under one roof. A2 Warsaw Park has been designed for both storage and light production use, and meets the most modern technical requirements. The building has been awarded a BREEAM certificate on the Good level and is fully leased on long-term contracts. The property was purchased from Invesco Real Estate on behalf of Savills IM European Logistics Fund 3 (ELF3).
Name of the deal
The acquisition of a A2 Warsaw Park
The date of closing the deal
30 September 2021
Value of the transaction (in EUR)
112.5 million
Yield
4.4%
Seller, plus brief information about the company
The property was purchased from Invesco Real Estate, a global real estate investment manager, on behalf of Savills IM European Logistics Fund 3 (ELF3)
Consultancy which advised Seller
The sellers were represented by Greenberg Traurig, EY, CBRE and AFM.
Purchaser, plus brief information about the company
The property was purchased from a fund managed by Invesco Real Estate, a global real estate investment manager, on behalf of Savills IM European Logistics Fund 3 (ELF3), which already owns 12 investments across Europe. This is the fund’s largest transaction in Europe and one of Savills IM’s largest investments in the Polish commercial market. Savills IM is an international real estate investment manager which manages approximately EUR 26.1 billion worth of real estate globally (as of the end of 2021) with 17 offices around the world. The company offers a wide variety of asset and fund management services in the form of individual mandates and funds for a variety of investors, including insurance companies, pension funds, charities and family offices. The scope of investment styles reaches from core to opportunistic. In Poland, Savills IM currently manages assets in three commercial real estate sectors: office, logistics and retail. Their total value is around EUR 1.7 billion.
Consultancy which advised Purchaser
Savills IM was advised by Wolf Theiss, JLL, KPMG and BNP Paribas.
Financing institution
The financing institution is Norddeutsche Landesbank Girozentrale (abbreviated NORD/LB) which is a German Landesbank and one of the largest commercial banks in Germany. It is a public corporation majority-owned by the federal states of Lower Saxony and Saxony-Anhalt with its head office in Hanover.
Current occupancy level
100% - fully occupied
Please say why this deal should be considered for the award
A2 Warsaw Park project, due to its size, quality and prominent location, attracted strong demand from both good covenant tenants as well as international investors. The warehouse has above-average growth potential and also ESG enhancement potential. The acquisition of a A2 Warsaw Park was one of the largest single asset warehouse transactions in the history of the Polish market and also a record yield. The combination of the very good location, the diverse sustainability features of the property and the tenants, who are also strongly focused on sustainability, make the purchase a particularly attractive investment. This was the Savills IM European Logistics Fund 3 largest transaction in Europe and one of Savills IM’s largest investments in the Polish commercial real property market.