REINO Capital, Grosvenor and IO Asset Management acquire Logistic City

Polish Logistics LLP, a new investment vehicle established by IO Asset Management, the specialist manager of industrial real estate, and REINO Capital, a real estate holding company listed on the Warsaw Stock Exchange, with the backing of Grosvenor Group, one of the largest privately-owned international property companies, has completed its first investment – the Logistic City prime logistics park in Piotrków Trybunalski. 

Polish Logistics LLP has acquired Logistic City in the established logistics location of Piotrków, south of Lodz, from a private investor for €65 million.

Logistic City comprises 135,000 sq m of built and leased space and development land with the potential for a further 300,000 sq m of build-to-suit space. The built space comprises four units, let to seven tenants. The main tenant, occupying half of the space, is Jysk, the Danish retail chain.

The Polish Logistics LLP investment vehicle will be managed by REINO IO Logistics, a joint venture that draws upon REINO’s local market presence and IO’s specialist industrial real estate expertise.

Polish Logistics LLP intends to expand its portfolio through the acquisition of both standing investments and land for build-to-suit developments. It represents the third investment programme for IO Asset Management and Grosvenor. The first two were of multi-let industrial assets in the UK.

The joint venture partners consider Logistic City to be a superb first investment, as it is located in an increasingly desirable area for central distribution hubs and there is the potential for further development to meet the growing demand from logistics users.

Angus Scott-Brown, managing partner of IO Asset Management, said: “The logistics market in Poland is particularly attractive due to its location, size and growth potential. It is a natural direction of development for both IO and our investors. The joint venture with REINO Capital is an excellent combination of experience and local competences, which are essential for the acquisition of new investment opportunities and the delivery of value to our investors”.

Dorota Latkowska, CIO of REINO Partners (REINO Capital Group’s asset management company), said:  “The fact that we have attracted Grosvenor for its first investment in Poland is evidence of its recognition and trust in our team. REINO, having a 10-year track record, is becoming a first choice investment partner and asset manager in the Polish real estate market for global investors”.

“We want to make Logistic City and its expansion the foundation of our logistics investment programme in Poland. We are ready to significantly expand our logistics portfolio within the coming months, as we have identified several investment opportunities”.

Andy Yates, Investment Director, Indirect Investment, at Grosvenor Group, said: “We are pleased to have made this first acquisition in our new venture. Whilst this is the first partnership with REINO, it is our third partnership with IO, and we believe the combination of local market knowledge and sector expertise is very powerful. We look forward to building on this initial investment in what is a sector with strong supporting market dynamics”.          


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Founded in 2010, REINO Partners is part of REINO Capital, an investment and property group listed on the Warsaw Stock Exchange.

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