Generali snaps up core shed in Krakow

Generali Real Estate has completed the acquisition of 7R Park Kraków IX, a core logistics asset in Poland, located in the Krakow, on behalf of the pan-European Generali Real Estate Logistics Fund (GRELF) managed by Generali Real Estate SGR. 

The seller of the asset, which is situated in Kokotów, is 7R SA. This is the second transaction in the logistics segment in Poland, that Generali Real Estate has completed with 7R this year, after the acquisition of a warehouse complex in Gdansk.

Pierre-David Baylac, head of logistics at Generali Real Estate, commented: 'We are pleased to continue our European expansion in Logistics, executed through our pan-European dedicated fund GRELF, with this second opportunity in Poland.

'We are also delighted to cooperate with 7R again, following the acquisition of the Gdansk park this summer. With more than €1 bn assets under management in logistics, at the end of 2021 our portfolio of logistic assets in France, Italy and Poland will be 145,000 m2 bigger, with existing assets or to be delivered in 2022.

'With a solid pipeline, we continue our expansion in the coming years in our target countries.'

7R Park Kraków IX is located in Kokotów, in the Wieliczka Economic Activity Zone, where 7R has developed multiple logistics facilities since 2015.

The asset, covering 33,600 m2 and fully leased, benefits from an excellent location in close proximity to primary highway infrastructure, as well as convenient access to public transport.

7R Park Kraków IX is BREEAM certified 'Very Good', thanks to features like a rooftop photovoltaic plant and charging stations for electric vehicles, and its high energy efficiency, with LED lighting and an optimised air distribution system.

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