10. Dezember 2012


Peakside Capital disposes of 34,000 sqm distribution centre in Warsae from Polonia Property Fund I

In English language only

Peakside Capital (“Peakside” / the “Company”), a specialist European real estate private equity firm, announces that Peakside Polonia Management (“PPM”), its Polish subsidiary, has sold the “Warsaw Distribution Centre”, a 34,000 sqm logistic and office business park in Warsaw, owned by the Polonia Property Fund I to CBRE Global Investors.

The asset is well located in the Warsaw’s Zone 1 logistics region, comprises approximately 25,300 sqm of warehouse space and 8,700 sqm of office space and is occupied by 28 local and international tenants. The sale follows the completion of PPM’s asset management programme in which a number of new leases were signed over the six year period in which Peakside held the asset in order to improve it to its current institutional quality.

Stefan Aumann, founding partner of Peakside Capital commented:
“The sale of the Warsaw Distribution Centre demonstrates the attractiveness of assets within the Polonia Property Fund I and is in line with our strategy of realising value from assets where our asset management initiatives have been successfully completed. It is also another example of the excellent progress we have made since our acquisition of PPM in August 2012 and we are currently seeing exciting opportunities in Poland to help achieve our ambitions for sustained growth in this market.”

Miroslaw Januszko, CIO of Polonia Property Funds said:
“The disposal of the Warsaw Distribution Centre is in line with our investment strategy to dispose of stabilized assets in our Polonia Property Fund I and we are delighted to have sold the asset to such a high quality buyer. The sale demonstrates our ability to find and secure assets where we can utilise the asset and investment management skills of our Polish platform to improve underlying performance and enhance value prior to making a successful exit on behalf of our investors.”

Savills and Linklaters advised CBRE Global Investors on this transaction. Jones Lang Lasalle and Clifford Chance advised Polonia I.

For further information, please contact:
Stephanie Highett /Daniel O’Donnell /Faye Walters, FTI Consulting
Tel: +44 (0)20 7831 3113

Notes to editors:
Peakside Capital (Peakside) is a specialist European real estate private equity firm. Peakside is owned by its employees and was established following a spin out of the European Real Estate Principal Investments (EMEA REPI) division of Bank of America Merrill Lynch (BofAML) in September 2010. As of Q3 2012, Peakside managed 43 investments across 9 different European countries, totalling over €2.0 billion in gross asset value.

Peakside provides fund management and investment advisory services for managed portfolios which include its four real estate funds and a significant number of separate investments:

  • Peakside Real Estate Fund I (PREF I), a pan-European opportunistic fund with EUR 261 million of capital commitments, is focused on active asset management opportunities across Europe;
  • Polonia Property Fund I and Polonia Property Fund II, core funds with c. EUR 160 million of capital commitments, managed by Peakside Polonia Management (PPM), Peakside’s recently acquired Polish subsidiary, which are focused on core and core plus opportunities across Central and Eastern Europe;
  • Bosphorus Real Estate Fund I (BREF I), an opportunistic fund with EUR 204 million of capital commitments, which is focused on Turkey; and
  • A portfolio of European real estate investments held directly or indirectly by clients.

With offices in Switzerland, the UK, Poland, Luxembourg and the Cayman Islands, Peakside currently has 28 professionals. Peakside’s team has worked successfully together for a number of years, investing across a range of transactions, investing across asset classes ranging from direct single assets and portfolios to distressed debt and private equity investments in real estate operating companies. The firm’s management has a strong track record of delivering outstanding results across the sector.

Press release as PDF

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