Elite Partners Capital has announced it has purchased a warehouse in Mszczonow, Poland.
FREMONT, CA: In recent times, Elite Partners Capital has announced it has purchased a warehouse in Mszczonow, Poland. It cost them more than EUR30 million (S$48.6 million) from a subsidiary of Singapore's sovereign wealth fund GIC. The deal leads its build-up of a portfolio of specific logistics assets in Europe that can address prospects rising from COVID-19-related disruptions.
A Singapore-based private equity firm Elite said its Elite Logistics Fund (the "Fund") obtained the warehouse from GIC's owned P3 Logistics Parks. It is headquartered in the Czech Republic, and the latter also has a second logistics facility in the Polish town of Piotrkow.
The hub is 58,500 sqm (629,700 square feet), and it is the most massive warehouse available in PepsiCo Poland's distribution network. It secures the global F&B leader's logistics and warehouse procedures, which were earlier run out of numerous locations across the Central European nation.
The transaction has also increased Elite's presence in the Mszczonow Park to six buildings, with almost 230,000 sqm (2,476,000 square feet). This deal follows the acquirement of five buildings in March 2020, and it was one of the most significant transactions in Poland's logistics sector this year.
Located in the south-west of Warsaw, the Mszczonow warehouse is also well operated by expressways and motorways that connect the Polish capital to Berlin. It is also tactically situated just an hour's drive from the Lodz terminal, the main terminal for the Chengdu-Lodz railway that links Europe to China.
According to Mr. Victor Song, CEO and Managing Director of Elite Partners, "We are elated by the completion of this acquisition. The dedicated warehouse in Mszczonow is a vital part of our strategy to build up a Pan-European portfolio of specialised logistics assets in Poland and the United Kingdom with specific geographical focus in the key European logistics hubs."
Mr. Enoch Tan, Portfolio Director of the Fund, said, "The COVID-19 pandemic has accelerated the need to establish dedicated warehouses for sorting and distribution to meet the surge in e-commerce and cold chain to store and distribute food and perishables at a time when more people are working from home. In turn, these require support from specialised logistics infrastructure. Our Fund will cater to all three aspects."