Immofinanz sells logistics properties in Poland and Czech Republic

Immofinanz Group has sold two logistic properties, Bokserska Distribution Park in Warsaw and Westpoint Distribution Park in Prague, for a total of €33.2 million, the company said in a statement. The Warsaw property was purchased by UK & European Investments, while the Prague facility was bought by Czech-based investment firm Central Group. “Both transactions show our strategic withdrawal from the logistic sector in Poland and the Czech Republic. Our Czech investments are focused on office and retail assets. In Poland we still have two other logistic properties that are earmarked for sale in the medium-term,” said Eduard Zehetner, CEO of Immofinanz Group. “We plan to focus our logistic real estate investment on the German, Romanian and Russian markets,” he added. Bokserska Distribution Park has 17,500 sqm of space and is located in southern Warsaw. The property, built in 2001, is currently fully leased. Westpoint Distribution, built in 1970, offers 64,000 sqm of space.