Raben Group
Sale-leaseback enables seller to unlock capital to support long-term growth
Tenant Description: Leading logistics operator with over 170 locations in 17 European countries
Total Investment: $194 million (€169 million)
Transaction Type: Sale-leaseback*
Location: Poland
Square Footage: 1.5M+ square feet (150,000+ square meters)
Facility Type: 8 logistics facilities
Green Features: Two of the facilities are low-emissions properties with PV panels on the roof
W. P. Carey completed the €169 million sale-leaseback of a logistics portfolio in Poland. Totaling over 150,000 square meters, the portfolio comprises a core logistics campus of four assets in Poznań, in addition to four warehouse and cross-dock facilities across Poland. The portfolio is triple-net leased to Raben Group, a leading logistics operator.
The logistics campus, located within the Poznań Logistics Hub, serves as a core component of Raben’s central distribution center in Poland. It is strategically positioned with direct access to a major arterial highway that provides strong connectivity spanning Warsaw to Berlin. The remaining four facilities represent critical infrastructure that enable Raben to provide 24-hour nationwide delivery.
The portfolio is equipped with state-of-the-art technology and infrastructure, including inventory management systems, automated sorting and packaging lines and real-time tracking capabilities, to ensure efficient handling of large volumes of goods. Two of the facilities in the portfolio are also classified as low-emissions properties, with features including heat pump heating systems, LED lighting and PV panels installed on the roof.
The portfolio is master leased for a term of 15 years with annual inflation-based rent increases.
*In a sale-leaseback, a company sells its real estate to an investor like W. P. Carey for cash and simultaneously enters into a long-term lease. In doing so, the company extracts 100% of the property’s value and converts an otherwise illiquid asset into working capital to reinvest in its business or pay down debt, while maintaining operational control.
We’re proud that our properties are recognized by top global investors as high-quality assets. The capital generated through this sale-leaseback supports our long-term growth ambitions, including investments that strengthen the foundation of the Group and support our further development in Europe.
W. P. Carey proved to be an outstanding partner throughout this transaction. From structuring through execution, the team demonstrated a clear commitment to delivering certainty of close, flexibility and a solution that aligned seamlessly with Raben’s operational and growth objectives. This acquisition highlights the growing importance of sale-leaseback transactions in the I&L sector in Poland and in Europe, offering investors stable, inflation-indexed cash flows while enabling corporates to unlock capital tied up in real estate.
We’re pleased to further expand our footprint in Poland, a market where we continue to see compelling investment opportunities. This portfolio was particularly attractive, as it represents an essential component of Poland’s logistics infrastructure, with assets that are strategically located, technologically advanced and integral to the tenant’s distribution network. We welcome Raben as our newest tenant and look forward to working with them.