As reported by CIJ last month, GLL Real Estate Partners is taking over a second Amazon warehouse in Poland in a leaseback transaction worth roughly €70m. GLL, which is reportedly acting on behalf of an undisclosed Asian investor, has applied to Poland’s anti-trust regulator UOKiK this week to acquire the 100,000 sqm facility, developed by Panattoni in the town of Sady, near Poznań.
CIJ reported in February that GLL took over Amazon centers in Wrocław and Poznań in a pair of transactions that set a price record for the Polish warehouse market. The centers are worth a total of €140m, with the vendor believed to have achieved yield of far below 6 percent thanks to 15-year leases in both centers. The US e-commerce giant has already confirmed that the first sale and leaseback transaction in Wrocław is underway. The second deal is expected to close later this year.
Amazon claims the sale will have no effect on the company’s operations on the Polish market. GLL has acquired several other Polish real estate assets, including Green Day, Kazimierz Office Center, Liberty Corner, Marynarska Point II, Griffin House and Renaissance.
