Generali Real Estate acquires core logistics park in Poland, Gdansk area

Milan – Generali Real Estate has completed the acquisition of 7R Park Gdansk II, a core logistics park in Poland, located in Kowale, Gdansk area, on behalf of the pan-European “Generali Real Estate Logistics Fund” (GRELF) fund managed by Generali Real Estate S.p.A SGR. The seller of the asset is 7R SA.

7R Park Gdansk II was developed and completed in 2021 and provides modern, well-specified logistics accommodation, which is suitable for a wide range of logistics occupiers. The park is fully let to primary tenants such as InPost, Dot2Dot and Rohlig Suus.

The logistics park is a complex comprising three buildings: one cross-dock and two modern warehouses, offering in total ca. 52,000 sqm of lettable area. The asset will soon be BREEAM certified, thanks to the implementation of smart solutions, the optimization of energy consumption and the use of eco-friendly construction techniques. Besides, with extensive green areas and an ideal accessibility by public transport, the logistics park stands out in terms of attention to health and well-being related aspects. The asset has been assessed by Generali Real Estate using its in-house sustainability tool, which confirmed the feasibility of a high-level certification and sustainable operation of the asset.

Gdansk is one of the key and most strategic logistics hubs in Central Eastern Europe, thanks to the presence of the fastest growing container port in Europe, with the only deep water container terminal in the Baltic Sea able to handle the ultra large 24 thousand TEU container vessels. The region surrounding Gdansk, also known as the ‘Tricity’, has developed as a warehouse and logistics hub to the rest of the Country and beyond.

Pierre-David Baylac, Head of Logistics at Generali Real Estate, commented: “Leveraging on the consolidated experience in logistics in France and Italy, where we have been a long-lasting player active since mid-2000, with this operation we are now expanding into the Polish logistic market. Our logistic portfolio is mainly composed of parks in strategically-located distribution hubs, and the project in Gdansk perfectly fits in. Our ambition is to continue expanding in Europe on a wide range of supply chain asset, from XXL to Cross Dock and Urban Logistics, targeting high-quality assets. In this respect we are delighted to work with 7R, who has developed in recent years an impressive track record of top quality assets and parks across Poland.”

Łukasz Jachna, Head of Capital Markets at 7R, said: “Warehouse facilities in Pomerania are an important part of our portfolio. One of them is 7R Park Gdańsk II in Kowale, which is already fully leased. No wonder that the facility built according to 7R high ecological standard and equipped with advanced technology has attracted a large investor to Poland. We are pleased that Generali Real Estate has trusted our quality. It’s another investor for whom the acquisition of our industrial park is the first step of expansion in Poland. We are sincerely convinced that our high green building standards and efforts towards sustainable urban architecture are reflected in investor purchases.”

The operation confirms the Generali Real Estate commitment in the logistics segment and marks its first logistics acquisition in Poland. The GRELF fund, dedicated to this highly specialized investment strategy, targets high-quality logistics assets in well-established areas with excellent accessibility, in major European logistics hubs.

The acquisition also proves the increasing importance that Central and Eastern Europe plays in the Generali portfolio strategy; in the Region, GRE currently (end of June 2021) manages a portfolio worth around €1.3 billion.

GRE was advised by Clifford Chance, Deloitte, Gleeds, ELREP, ARC Capital and CBRE.