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EUROPE Allianz moves into Polish and Finnish sheds

Investment & finance
Munich-based Allianz Real Estate has entered into a forward-purchase agreement with German logistics provider DHL for a portfolio of five logistics facilities under construction in Poland, the Netherlands and Finland.

The price of the transaction has not been disclosed. The deal, which is set for completion between Q1 2023 to Q1 2024, will be one of Allianz Real Estate’s largest single logistics sector acquisitions in terms of gross leasable area. The five facilities will have a combined area of more than 200,000 sqm. They are located in the Eindhoven, Helsinki, Warsaw and Gorzów Wielkopolski areas. The Polish and Finnish assets are also to be the first two logistics properties ever owned by Allianz Real Estate in the two countries.

Allianz Real Estate is being advised by CMS, Wistrand and Castren & Snellman, Drees & Sommer, Deloitte, KPMG and Savills for this transaction.

DHL, which is responsible for the development and delivery of the assets, will occupy at least 85 pct of their space on long-term leases following their completion. Each building is designed to meet BREEAM ‘Excellent’ and EPC A ratings, and to be compliant with EU Taxonomy. They will undergo a carbon risk real estate monitor (CRREM) assessment to ensure alignment with Allianz Real Estate’s own net-zero programme.

This high-profile transaction with a new prime partner in DHL further underscores the value Allianz Real Estate places on high-quality logistics assets in core markets in both established and fast-growing sub-markets. 2022 has proven to provide opportunity in the sector and we expect to further expand our European portfolio as we look ahead.
Kari Pitkin, the Europe head of business development at Allianz Real Estate

The relationship with DHL includes the potential for Allianz Real Estate to acquire additional facilities in Europe from the company in the future. The firm now has a global logistics portfolio in terms of assets under management worth EUR 14.2 bln, of which EUR 7.2 bln is in Europe.

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