Dentons Warsaw has advised Tristan Capital Partners and White Star Real Estate on a EUR 86 million acquisition for their EPISO 4 opportunity fund of a portfolio of five warehouses in Poland from Oz Real Estate. Hogan Lovells advised the sellers.
The five warehouses range from 16,000 square meters to 40,000 square meters and have a total gross lettable area of 161,689 square meters. They are categorized as “urban logistics” for their close driving distance to major cities, and they are over 90% let.
Kristian Smyth, Director at Tristan Capital Partners, said: “Despite substantial development of new logistics warehouses in Poland in recent years, demand continues to outstrip supply resulting in a sharp fall in vacancy rates and a slow increase in net effective rents. We expect these robust market fundamentals to continue on the back of buoyant Polish economic growth, and we are focused on expanding our Polish logistics footprint.”
The Dentons team was supervised by Partner Pawel Debowski and led by Senior Associate Jacek Jezierski, supported by Associate Joanna Fidecka. Dentons' Banking and Finance team, consisting of Partner Mateusz Toczyski, Senior Associate Anna Hergottova, and Associate Mateusz Krajewski, handled matters related to the financing of the investment provided by pbb Deutsche Pfandbriefbank.
The Hogan Lovells team was supervised and led by Partner Marek Grodek and consisted of Senior Associate Michal Zajaczkowski, Associates Marta Popis and Damian Gadomski, and Lawyer Adam Nowosielski.