CBRE IM has sold a distribution center logistics facility in Bydgoszcz, Poland, to REICO Long Lease, a fund managed by REICO IS EAM, which is part of the Ceska Sporitelna Banking Group within Erste Group.
The logistics facility in Bydgoszcz was completed in the first quarter of 2022. The building offers 103,864 square meters of rental space and holds a BREEAM Excellent certification. The property is leased to LPP Logistics, part of the international fashion group LPP, which specializes in the distribution of clothing, footwear, and fashion accessories through its network of brick-and-mortar and online stores.
“The distribution center in Bydgoszcz is an example of a modern and high-quality logistics complex with an excellent ESG profile and a long-term lease commitment from a strong partner from the LPP group,” said Jiri Horak, CIO and Vice Chairman of the Board of Directors of REICO IS EAM. “We chose the property due to its strategic location in one of the main logistics hubs in Poland, which, thanks to its infrastructure and concentration of key tenants, plays a significant role in supplying not only the Polish market, but also partly Germany. The acquisition naturally fits into the fund’s investment strategy, which is based on stable returns, geographical diversification and long-term portfolio sustainability.”
The REICO Long Lease fund was opened for distribution in May 2021 and focuses on buildings with long-term leases and creditworthy tenants. By acquiring the LPP Distribution Center in Bydgoszcz, the share of the real estate component in the REICO LONG LEASE fund’s assets increased to 70%. The total market value of the fund’s portfolio is now approximately 5 billion Czech crowns. As of the end of April 2025, over 53 thousand shareholders had invested in the fund, and its targeted annual return is in the range of 4-6%.
The REICO Long Lease fund is the second retail real estate fund established and managed by Erste Asset Management. The fund currently owns six properties, two of which are in the Czech Republic, three in Poland, and one in Slovakia.
