Madison International Realty has formed a joint venture with Poland’s Griffin Real Estate to develop two Amazon logistics facilities in Germany.
With Griffin’s development partner, Panattoni, a market leading European logistic developer, the firms will develop two build-to-suit properties, with footprint area of over 22,965 s/f and 97,951 s/f, that have been leased to Amazon on a 15-year lease with combined investment volume over $95 million.
The two companies have been working together since January 2020, when they began their strategic partnership in the logistics sector in Poland.
“This venture with the two first acquisitions in Germany is a strategic win for us at Griffin Real Estate and another milestone in our expansion. We are very pleased with our company’s entry into the promising German logistics market. (…)” said Nebil Senman, Managing Partner at Griffin Real Estate.
“Venturing into a new market, especially in times of pandemic, can be challenging, and would not be possible without the reliable support of Madison International Realty. We are delighted that Madison has chosen to work with us again as its investment partner, also in Germany,” added Maciej Dyjas, Managing Partner at Griffin Real Estate.