ESG-focused real estate investor Nrep has agreed to acquire an 80% stake in Polish logistics developer 7R (7R SA) for approximately €200m.
7R was established 14 years ago and has an existing portfolio of 1.8m sq m with a pipeline in excess of 2.3m sq m. The company will continue to operate under the 7R brand.
Rune Kock, CEO at Nrep, said: “7R is a business with good fundamentals, a strong standing in the market and priorities which align with Nrep’s sustainability efforts and values. This acquisition provides a unique opportunity to apply our decarbonisation focus on a large portfolio and scale our efforts to bring down CO2 emissions, as well as gain access to a significant pipeline in a market which has seen continued tenant demand but reduced supply. We look forward to working with the 7R team to capitalise on the opportunity.”
Tomasz Lubowiecki, founder and chairman of the board at 7R, added: “Obtaining Nrep as a strategic shareholder is an extremely important step in 7R’s development. This new capital investment in 7R will allow the business to continue its sustainable growth, develop in new markets and focus on long-term tenant relationships, all of which is beneficial to all our business lines.”
Nrep was advised by Linklaters, PwC, EY, JLL and Savills. 7R was represented by Cushman & Wakefield, KKW Legal, Rymarz Zdort Maruta and Crido.
