The developer Marvipol will team up with Panattoni Europe to on two warehouse investments within the Warsaw area. Worth PLN 100m, the projects will be carried out through a new SPV, in which Marvipol is the majority stakeholder and is responsible for acquiring financing and the investment process. Panattoni will handle the leasing process. Bartosz Puzdrowski from Marvipol says the bank financing for the two schemes will soon be secured.
Totaling 45,000 sqm of new space, the warehouses will be built to the west of Warsaw with good access to the A2 motorway. The talks on securing the land, however, are still underway. The first scheme is set to kick off in the fourth quarter of the year and is expected to take one year to complete.
