Dentons has advised Savills Investment Management (Savills IM) on the acquisition of the Leroy Merlin distribution center near Łódź from Invesco Real Estate, the global real estate investment manager. The purchase was made on behalf of Korean institutional investors managed by Vestas Investment Management and its value was approximately €71 million.

The Leroy Merlin distribution center is the largest single storey build-to-suit logistics facility (BTS) developed in Poland to date. The asset is located in Piątek (ca.40 km north of Łódź) and offers over 123,000 sq. m. of the usable area.

The acquisition of the logistics center executed by Savills IM was structured as a “forward commitment to purchase” formula.

Dentons’ Real Estate and Banking and Finance teams in Warsaw advised the client. Paweł Dębowski, Head of Dentons’ Europe Real Estate team, supervised the transaction. Counsel Anna Garbula-Węgrzynowska and Agnieszka Nagórska-Kordeczka led the deal with the assistance of associate Paulina Dąbek. Counsel Krzysztof Kaźmierczyk and senior associate Marcin Gruszka advised on financing aspects of the investment.

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