Tristan Fund Sells Polish Logistics Platform in JV with White Star Real Estate
Source: Tristan Capital Partners Press Release
21 September 2021, London: Tristan Capital Partners’ EPISO 4 Fund, in a joint venture with White Star Real Estate, has sold over 160,000 sqm of a prime urban logistic platform in Poland to Exeter. The platform, which consists of five assets located in Warsaw, Poznan, Wroclaw, Gdansk and Czeladz, was first acquired in December 2018.
James Brodie, Managing Director, Portfolio and Asset Management at Tristan, said: “The Polish industrial sector has seen strong growth in recent years. We have seen tremendous resilience in the industrial market throughout the last couple of years, with little sign of deal flow slowing. This robust market performance has allowed us to achieve our goals for this asset ahead of schedule and deliver a positive result for the Fund’s investors."
Bartosz Szewczyk, Managing Partner, Poland, White Star Real Estate, said: “Throughout the JV’s tenure, we have benefited from exponential growth in the Polish logistics market. With the market seeing its single best quarter in its history in Q1 2021 with a gross take-up of 1.6 million sqm, it is clear that warehouse real estate continues to remain highly competitive in Poland as a means of capital investment.
“Our tenants appreciate the conveniently located, high-quality, modern industrial spaces in which we offer. Together with Tristan, we have been consistently responding to their business needs which resulted in us re-letting over 60% of the portfolio.”
The Fund was advised by Dentons, PwC and JLL.