Logistics portfolio in Poland successfully sold

Deka Immobilien has sold the logistics parks Tychy and Bieruń in the Katowice region from the portfolio of its open-ended real estate fund WestInvest InterSelect. The buyer is Hillwood, a U.S.-based global real estate company specializing in industrial and logistics assets with a strong local presence in Poland. The sale price was approximately 100 Mio. Euros.

The two logistics properties were acquired as a portfolio in 2015 and various extensions were implemented during the holding period to support the expansion plans of the existing tenants. In Bieruń, the lettable area was expanded in 2017 and 2019 from 17,639 to around 56,000 square meters, including approximately 3,500 square meters of office space and 406 parking spaces. The property is let to AutoPartner S.A. on a long-term basis.
The multi-tenant property in the neighboring town Tychy was expanded by approximately 6,300 square meters to a total of 97,000 square meters. The site offers 818 parking spaces. 
Both assets generated above-average net rental income and an attractive performance during the holding period.

Tychy and Bieruń are located at the intersection of major regional transport routes, where the A4 motorway (Dresden–Wrocław–Kraków) meets the S1 expressway connecting Warsaw and Łódź with the Czech Republic and Slovakia.

After a holding period of around ten years, Deka Immobilien has taken advantage of an attractive market opportunity to strategically optimise the fund portfolio.

The sale provides the fund with additional liquidity enabling the continued growth of the portfolio through strategic new acquisitions. The latest examples of this are two transactions in Switzerland and Italy. In the canton of Ticino, the fund recently acquired a distribution center with a long-term lease to a leading logistics service provider. Near Milan, the acquisition of the MXP3 logistics facility secured another premium asset in one of Southern Europe’s most important logistics hubs.