Polish Logistics LLP, an investment vehicle established by REINO iO Logistics with Grosvenor Group’s Indirect Investment business as the cornerstone investor, has expanded its portfolio with the acquisition of five prime logistics parks in Poland from AEW Europe.

The acquisition of the portfolio follows an initial acquisition by the vehicle in June 2020 of Logistic City, a 135,000 sqm asset in the established logistics location of Piotrków. The expansion of Polish Logistics LLP demonstrates the strength of the market and reinforces our interest in and commitment to the logistics sector.  

The five logistics parks are in Lodz, Poznan, Sosnowiec, Bielsko-Biala and Rzeszow. They total 208,992 sq m and are let to 28 tenants including, Hutchinson, Omega Pilzno, DAMCO and Pekaes.

Angus Scott-Brown and Dorota Latkowska - joint managing partners of REINO iO Logistics, commented:

“The portfolio provides a critical mass of purpose-built multi-tenanted logistics parks in prime locations throughout Poland. It offers strong geographic diversification in five established logistics markets and attractive granularity of income.

“The logistics market in Poland is attractive due to its location, size and growth potential. Its strategic location and ability to serve the whole of Western and Eastern Europe, its occupational costs that are some of the lowest within developed countries in Europe, its rail link to China and access to deep seaports make it a compelling market for us.

“Completing two transactions during a pandemic year is testament to all the teams involved. This latest acquisition demonstrates REINO iO’s ability to present international partners with attractive deals, acquire a varity of assets and close deals quickly. This is  just the beginning of our active asset management programme, which will include implementing measures to achieve the highest ESG standards across the portfolio”.

Andy Yates, Investment Director, Indirect Investment, at Grosvenor Group, said:

"We are delighted to have been able to move as quickly as we did to secure this exceptional acquisition opportunity despite the Europe-wide lockdown. We're looking forward to working with REINO IO to add value to the portfolio and on any future opportunities”.

The Polish Logistics LLP investment vehicle is managed by REINO IO Logistics, a joint venture that draws upon REINO’s local market presence and IO’s specialist industrial real estate expertise. It intends to expand its portfolio through the acquisition of both standing investments and land for build-to-suit developments.

Since 2012, Grosvenor has invested in seven specialist logistics partners through the Indirect Investment business. This new portfolio means that we have committed a total of £223m across eleven deals in six countries. Our nine realised investments have generated £74m in profit and an average IRR of over 20% pa and a 1.6x multiple.  As well as closing this follow-on deal in Poland, we are also in the advanced stages of several new opportunities across Australia and the USA.