On November 22, 2021, Macquarie Asset Management announced it has expanded its presence in the logistics real estate sector by acquiring a portfolio of CityFlex properties in Poland from 7R for more than EUR 63 million on behalf of one of its managed accounts.
According to the company, the approximately 80,000 square meter last-mile logistics portfolio, acquired in several stages since September 2020, is comprised of four newly completed assets and two facilities under construction. The properties are 100 percent leased and have been awarded a ‘good’ or ‘very good’ rating under BREEAM’s sustainable building certification scheme.
“The pandemic has shone a spotlight on the vital role the logistics real estate sector plays in underpinning efficient global supply chains,” commented Macquarie Asset Management Europe Real Estate Team Co-Head Dana Gibson. “As the demand for strategically located facilities with strong sustainability credentials continues to grow, we are delighted to continue our partnership with 7R in Poland and to secure this high-quality portfolio.”
“Building the first last-mile logistics network in Poland, which covers all key city locations with 7R’s urban warehouses, and partnering with Macquarie is an excellent example of cooperation between capital and development,” added 7R Member of the Board and Chief Capital Markets Officer Lukasz Jachna. “The alignment of interest between the parties to provide high-quality products in key micro-locations, ensuring they are in line with high ESG standards and meet the expectations of tenants, is always a great strategy to execute. We’re looking to provide more high-end products together with our partner in the near future.”