Deka Immobilien has announced the sale of the Tychy and Bierun logistics parks in the Katowice region to Hillwood for approximately EUR 100 million.
The parks were a part of the portfolio of Deka’s open-ended real estate fund WestInvest InterSelect.
The two logistics properties were acquired as a portfolio in 2015 and various extensions were implemented during the holding period to support the expansion plans of the existing tenants. In Bierun, the lettable area was expanded in 2017 and 2019 from 17,639 to around 56,000 square meters, including approximately 3,500 square meters of office space and 406 parking spaces. The property is let to AutoPartner S.A. on a long-term basis. The multi-tenant property in the neighboring town Tychy was expanded by approximately 6,300 square meters to a total of 97,000 square meters. The site offers 818 parking spaces. Deka reports that both assets generated above-average net rental income and an attractive performance during the holding period.
“After a holding period of around ten years, Deka Immobilien has taken advantage of an attractive market opportunity to strategically optimise the fund portfolio,” Deka announced. “The sale provides the fund with additional liquidity, enabling the continued growth of the portfolio through strategic new acquisitions.”
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