A Korean fund, represented by the Polish branch of BNP Paribas Real Estate, has acquired the 190,000 sqm distribution centre developed by Panattoni in Świebodzin in western Poland.
Financing of almost EUR 100 mln was granted for this transaction by a consortium of two banks, with BNP Paribas Bank Polska acting as the facility and security agent as well as the account bank, while also providing escrow services. BNP Paribas Group also provided comprehensive support for the deal, including representing the investor in acquiring the investment opportunity, the technical due diligence of the asset and handling the transaction payments.
“This transaction is the result of BNP Paribas Group’s global presence and the very strong array of competences that we can provide. I am pleased that we can support our clients in new markets, thus implementing the mission of the BNP Paribas Group – helping them to invest in a project that has been developed in accordance with sustainable development principles.” said Marek Kowalski, the head of real estate finance at BNP Paribas Bank.
The four-storey facility comprises 190,000 sqm of industrial space together with 9,000 sqm of office space, as well as 1,000 parking places. It is situated close to the S3 expressway.