A subsidiary of state majority-owned, Warsaw Stock Exchange-listed commercial real estate investor Polski Holding Nieruchomości (PHN) has sold its 50-percent stake in Wrocław Industrial Park, the owner of an eponymous logistics project in Wrocław, to warehouse space developer SEGRO. The value of the transaction amounts to PLN 23.4 million. PHN and SEGRO, which owns the other 50-percent stake in Wrocław Industrial Park, developed the project in a joint-venture formula, having signed a cooperation agreement back in 2011. The sale transaction is in line with PHN ‘s strategy for the years 2017-2023 which, with regard to the logistics property sector, envisions focusing on development activity and selling new schemes once they have been completed and commercialized.
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