Panattoni Europe has sold two portfolios of logistics assets in Poland with a combined space of 402,000 sq m to companies affiliated with LogiCor, a European logistics platform set up by the Blackstone Group.

The first deal was finalized in October 2012 and comprised four projects with a combined space of 218,000 sq m. The projects had been owned by a joint-venture company set up by Panattoni and another investor. The buyer received funding from Bank Pekao SA.

The second deal was for nine newly constructed logistics centers located throughout Poland with a combined space of 184,000 sq m. It was finalized in December 2012. The centers had been developed together with the Pramerica Real Estate Investors investment fund company, which specializes in managing investment projects on the European property market and in consulting services. Pramerica Real Estate Investors is a member of the Prudential Financial Inc. group based in the United States. The buyer received a loan from Helaba Landesbank Hessen-Thüringen.