Oxenwood makes Poland debut with €13.5 million DHL logistics facility acquisition
Oxenwood Real Estate, the UK and European real estate investment management firm, has acquired a newly-developed logistics facility near Warsaw from a joint venture between Panattoni Europe and Bluehouse Capital for €13.5 million.
The 8,500 sq m cross-docking facility at Radzymin, 30km from Warsaw city centre, was completed in November 2018 as a build-to-suit courier delivery distribution centre for DHL Parcel Polska. DHL, which is part of Deutsche Post DHL Group, signed a 10-year lease.
The acquisition is the third in continental Europe by Oxenwood in the last 18 months following the purchase of five facilities in German and one in Dublin. All the facilities are occupied by divisions of DHL, the leading global brand in the logistics industry.
Jeremy Bishop, co-founder of Oxenwood, said: “This transaction was a high-quality opportunity to acquire a newly-built cross docking facility in the primary logistics market of Poland and to extend our relationship with DHL”.
Jaroslaw Wnuk, General Manager Poland at Bluehouse Capital, commented: “This is the first disposal from the larger portfolio we have created with Panattoni. Once other assets are fully developed and stabilised, we will bring them into the market, as our strategy is not to hold assets long-term”.
Oxenwood was advised by CBRE Poland, Kochanski & Partners, KPMG and Paragon Consulting. Panattoni Europe and Bluehouse Capital were advised by Kucharski & Partners and TPA.