PZU fund buys property portfolio

The closed-end real estate investment fund of insurer PZU has acquired a “prestigious logistics property portfolio,” the company said in a news release on Friday. The deal value was about €140 million. The portfolio consists of four logistics parks located in Wrocław, Łódź and Gdańsk. Clifford Chance, JLL and Tebodin were the buyer’s advisors. The deal is the first in history involving the purchase of a real estate portfolio by a Polish investor, PZU said.