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Elite Partners Capital Announces Acquisition of a Warehouse in Poland

Elite Partners Capital Announces Acquisition of a Warehouse in Poland
Elite Partners Capital Announces Acquisition of a Warehouse in Poland

Singapore's Elite Partners Capital announced that it has acquired a warehouse in Mszczonow, Poland from a subsidiary of Singapore's sovereign wealth fund GIC for over EUR30 million. The contract heads its build-up of a range of specialized logistics assets in Europe to cater to the opportunities arising from COVID-19-related issues.

It is the largest warehouse in PepsiCo Poland's distribution network covering an area of 58,500 sqm and combines the world’s F&B leader's logistics and warehouse processes.

Elite had acquired 5 buildings in March 2020 and was marked as one of the largest transactions in the logistics sector in Poland this year. The recent transaction was added to be the sixth building in Mszczonow Park with a total area of 230,000 sqm.

The Mszczonow warehouse is in the south-west of Warsaw and is well connected by motorways and expressways that links the Polish capital to Berlin. It is also located at just an hour’s drive from the Lodz terminal, linking Europe to China.

The recent acquisition is reported to be the Fund’s third one since May 2020 and is continued despite the economic and market disruption caused by the coronavirus pandemic. The fund is creating a portfolio of European assets that focus on cold chain logistics, logistics infrastructure, and specialized warehousing. The Pan-European fund that was launched in January 2020 is targeting similar assets in Poland and the UK.

The dedicated warehouse in Mszczonow is an important part of Elite’s strategy to develop a Pan-European portfolio of specialized logistics in the UK and Poland with a precise geographical focus in the key European logistics hubs, confirmed the CEO and Managing Director of Elite Partners, Mr. Victor Song.

Portfolio Director of the Fund, Mr. Enoch Tan stated that the pandemic has stimulated the need to create dedicated warehouses for organizing and distribution to meet the needs in the e-commerce and cold chain to stock and supply food and perishables at a time when many are working from home. He further added that these need help from the specialized logistics infrastructure. He ensured that the Fund caters to all three aspects.

 

Source: https://en.acnnewswire.com/press-release/english/61177/singapore's-elite-partners-acquires-warehouse-in-poland-for-over-eur30-million-(s$48.6-million)-from-subsidiary-of-sovereign-fund-gic

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Vinisha Joshi

Despite graduating with an engineering degree in electronics and communication, Vinisha Joshi chose the road less travelled, and decided to pursue her career in content writing . Currently, she pens down articles for cuereport.com and a few other distinguished news platforms, pertaining to business and finance.