Greykite Fund launches €300m logistics JV with portfolio debut acquisition

Greykite European Real Estate Fund has commenced its deployment program with the acquisition of a major logistics portfolio in Poland.

Comprising three high-quality, multi-tenanted properties in Warsaw, Strykow and Gliwice, the portfolio will form the initial investment in a new €300 million ($331 million) joint venture with White Star Real Estate, a Central Europe-focused real estate developer and manager. White Star, the minority joint venture partner, developed the properties and will continue in its role as asset and property manager.

The portfolio, which is almost fully occupied, totals more than 142,000 square meters (1.5 million square feet) of lettable space. It features a diversified and resilient income profile across more than 40 tenants, with an average unexpired lease term of three years. The properties are located in well-established industrial and logistics sub-markets in Warsaw, Strykow (adjacent to Lodz) and Gliwice (Upper Silesia), near some of Pola