Griffin and Redefine Properties sell two logistics properties in Stryków. Transaction worth EUR 51.8 million

Griffin Real Estate, on behalf of Redefine Properties, has finalized the sale of two A-class logistics properties of 77,660 sqm GLA and a building plot for the construction of another 22,407 sqm GLA warehouse in Stryków. It was purchased by a British investor Tritax EuroBox plc and the transaction was worth EUR 51.8 million.

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Logistics properties in Stryków are part of a portfolio owned by European Logistics Investment, a platform jointly managed by Griffin Real Estate, the largest private equity investor in Central and Eastern Europe, and Panattoni Europe, a leading European logistics properties developer. In January 2020, Madison International Realty announced its investment in a 46.5% stake in ELI. The sale of logistics properties in Strykow to Tritax EuroBox is preparing ELI for a new investor.

Stryków was the first ELI project. Construction began in the second half of 2018 and was completed in February 2019. Stryków, located near Łódź, is one of the largest logistics centres in Poland.

In the transaction, the seller was advised by Linklaters law firm and MDDP tax advisor. 

Tritax EuroBox invests and manages a logistics property portfolio in Europe that can generate an attractive return on capital and a secure income for shareholders. These assets play a key role in a logistics and distribution system focused on the most developed logistics markets and major population centres in the countries of continental Europe.

Redefine Properties is South Africa's leading Real Estate Investment Trust (REIT), with the main focus on increasing and improving cash flow to provide high quality profits that are the basis for sustainable dividend growth and total return per share. Redefine manages a diversified platform with local and international real estate assets of ZAR 95.4 billion. It focuses on direct investment in retail, office and industrial properties in South Africa, followed by real estate investments in Poland, United Kingdom and Australia. Redefine is listed on the Johannesburg Stock Exchange (JSE) and is part of the JSE Top 40 index. The market capitalisation of Redefine is ZAR 45.5 billion.