Poland Two deals for LeadCrest

The European fund announced entering an exclusive long-term partnership with KGL via the acquisition of a 9,500-sqm light industrial and logistics facility in Greater Warsaw. Situated in Czosnów, the asset enjoys a location alongside the S7 expressway which is currently being refurbished and extended. The facility was extended and modernised in 2019 and comprises production and warehouse space as well ancillary office accommodation. The site also includes 20,000 sqm of undeveloped land, allowing for future extension of the facility. The parties have agreed to a modernisation plan which will improve the energy performance of the facility. The asset is let on a 20-year triple net lease to KGL. During this transaction the buyer was represented by Knight Frank.

Founded in 1992, KGL is a Polish specialty chemical company, market leader in food packaging for the meat, fresh fruit and vegetable, biscuits, and takeaways product segments. In addition, the company also distributes granules and produces tools.

Moreover, LeadCrest acquired three retail warehouses in Poland. The portfolio comprises assets totalling 18,200 sqm and located in industrial and logistics hubs. Two assets are in Warsaw: one in the city centre near Warsaw Praga station, and the other on ul. Puławska. The third asset is in Czeladź, Greater Katowice, Upper Silesia. The portfolio is let on a 20-year triple net master lease to 3W. Rent is indexed annually to the Euro HICP. The parties have agreed to a modernisation plan which will improve the energy performance of the portfolio.

3W is a builders' merchant and home improvement retailer. Founded in 2009 by the current management team, it has grown both organically and externally. Its latest acquisition – Tadmar, in October 2022 – has doubled its footprint to approximately 100 branches.