London and Warsaw, July 22, 2021 - White Star Logistics, a new joint venture between Bain Capital Credit and White Star Real Estate, is launching two logistics centers in Poland, in the Warsaw suburbs of Nowy Konik and Raszyn. These areas are in high demand for warehousing, light industrial uses and from the ever-growing e-commerce market. The total area of both projects will be approximately 120,000 sqm.
The location of the logistics centers will allow for effective distribution in the capital and easy access to national roads and motorways. The sites were chosen based on current market requirements, new trends such as e-commerce and last mile logistics, forecasted growth areas and tenant needs. Companies striving to improve the last leg of delivery to customers are increasingly turning to tech-driven solutions and convenient locations enabling efficient service to large urban metropolitan locations.
“The logistics services market in Poland is developing dynamically. We are observing continuing demand growth for warehouse space, which is why we decided to expand our existing operations with a new JV, White Star Logistics. We’re planning further development and future expansion in Poland including four new locations this year, and ten to twelve logistic centers over the next three years in attractive locations across the country.” says Bartosz Szewczyk, Managing Partner, Poland.
The logistics centers are the first projects for Bain Capital Credit and White Star Real Estate’s joint venture, White Star Logistics, which seeks to create a network of modern logistics centers in Poland’s most in-demand markets to offer tenants a wide choice of preferred locations.
Warsaw Nowy Konik and Warsaw Raszyn will be modern Class A logistic centers, distinguished by green solutions to minimize the properties’ carbon footprints. The properties will feature photovoltaic panels, water recycling, energy efficient systems and electric vehicle charging stations. In both locations, the local land development plan allows not only storage, but also light production. Additionally, buildings will be BREEM certified at the “Very Good” level.
“We are pleased to launch our White Star Logistics joint venture with these two projects, to meet growing demand for real estate within the Polish logistics market,” says Fabio Longo, Managing Director at Bain Capital Credit. “This is another European real estate joint venture, aimed at growing our real estate portfolio through attractive investment opportunities.”
Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $48 billion in assets under management. Bain Capital Credit invests up and down the capital structure and across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, non-performing loans and equities, and real estate special situations. Our team of more than 240 professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity and venture capital and real estate, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.
White Star Real Estate is a well-known, international real estate company with a first-class track record. Its team has been active in Central and Eastern Europe since 1997, leading the completion of over 50 development projects throughout the region. These projects include a large portfolio of landmark office buildings, as well as warehouse, retail, leisure and residential properties. White Star Real Estate is also an experienced asset and property manager, providing services to its clients for over 1.6 million square meters of commercial properties. White Star Real Estate is part of White Star Group, a holding company established to provide real estate management services and to make real estate and private equity investments primarily in Central and Eastern Europe. Further information is available