The MLP Group signed two agreements with WestInvest Gesellschaft für Investmentfonds mbH (Deka Immobilien) for the sale of the MLP Tychy and MLP Bieruń logistics parks. The total value of both transactions is nearly EUR 90 million, or roughly PLN 380 million. The target amount of space in the MLP Tychy park is 92.6 thousand square meters while in the MLP Bieruń park it is 55 thousand square meters.
The Colliers International consulting firm acted as the intermediary in this transaction while the Baker & McKenzie law firm was the legal advisor to MLP Group.
“We have elected to sell selected properties from our investment portfolio. According to our strategy and the plans we specified in our Prospectus, we operate as a developer. It is our intention to expand logistics parks steadily and sell the completed facilities. The precondition is for us to receive a satisfactory offer as transpired in this case. That is why we do not rule out more types of these transactions in the future”, said Radosław T. Krochta, Chief Executive Officer and Vice President of MLP Group S.A.
“The proceeds we obtain from this transaction we plan to earmark to fund subsequent investments to enable us to accelerate our pace of growth considerably. The very robust context on the warehouse market driven by the steadily climbing demand for modern space will certainly be conducive to our efforts. In Poland we plan to build parks in the Wielkopolska, Upper and Lower Silesia regions and in Łódź. We also intend to commence expansion onto the German market” emphasized Radosław T. Krochta. “Just as we announced previously, the Management Board will recommend designating a portion of the profits realized from this transaction to be paid as a dividend to the shareholders. We would like for the dividend yield to be at a level no lower than 4%”, added the Chief Executive Officer and Vice President of MLP Group S.A.
