Crescendo Real Estate Advisors has finalized the sale of a BTS facility, located in Gliwice, which was built for DPD Polska. Palmira Capital Partners’ acquisition of the property for the European Core Logistics Fund (ECLF) was completed in December 2021.
We are pleased to have achieved the successful sale of the Gilwice property, an important facility in DPD's distribution footprint in Poland. In 2014, when the market was far less mature than it is today, Crescendo provided 100% financing for the Build-to-Suit property, completing construction for DPD in under one year. In early 2021, Crescendo and DPD worked together again to extend the lease on the property for another ten years. The combination of the new lease with such a significant tenant in place, along with Gilwice’s excellent logistics location, meant Crescendo was able to negotiate a sales price that was deemed satisfactory for Palmira and Crescendo’s Fund I investors. As Crescendo continues to invest in Fund II, as well as deploying capital for its institutional partners, we look forward to working with JLL, PWC and Leucosia Capital again on future single-tenant Build-to-Suits and sale & leaseback transactions”,
comments Crescendo Real Estate Advisors.
From the Buyer's point of view, the cross-dock facility, with such a recognizable brand as DPD leasing the property for ten years, is an invaluable asset. The transaction confirms the strong position of Upper Silesia as a core logistic hub on Poland’s logistics map”,
comments Sławomir Jędrzejewski, Head of Industrial Investment, Capital Markets, JLL
