MIRA Real Estate agrees more than €300 million in European logistics transactions

MIRA Real Estate, which includes the former GLL Real Estate Partners, has continued to expand its presence in logistics real estate with more than €300 million in European transactions agreed during 2020.

MIRA Real Estate’s activity in the region this year was centred in Poland with the acquisitions of Cityflex, a 113,000 sqm last-mile logistics portfolio with sites in several key industrial and urban centres, and the Answear Distribution Centre, a 41,000 sqm modern logistics facility in Krakow. During the year, MIRA Real Estate also completed the sale of two 123,000 sqm state-of-the-art logistics facilities in Poznań and Wrocław leased to a global leader in e-commerce.

Dana Gibson, Chief Investment Officer and Co-Head of MIRA Real Estate in Europe, said: “We are seeing the shift to e-commerce increasingly underpin growing demand for state-of-the-art logistics facilities in strategic locations, with COVID-19 further accelerating the longer-term trend toward consumers buying more online. These trends have supported strong deal activity for our logistics team in Europe, with more than €300 million in transactions agreed this year.”

In Europe, MIRA Real Estate and its specialist platforms manage approximately €925 million in logistics real estate. Its portfolio in the region is comprised of 50 assets representing more than 950,000 sqm of gross leasable area across Finland, France, the Netherlands, Poland, Slovakia, Sweden, and the United Kingdom. This includes the PLP platform in the UK which is developing and managing 23 prime logistics real estate properties and recently acquired a 405,000 sqm prime development site in Leeds.

Globally, the logistics sector is a core part of MIRA Real Estate’s broader capabilities. Together with its specialist platforms, MIRA Real Estate has invested more than €10 billion in the logistics sector around the world on behalf of investors since inception.