New York -- Real estate investment trust W.P. Carey has acquired a Hennes & Mauritz logistics center in Poznan, Poland.
W.P. Carey, through one of its affiliates, purchased the 896,911-sq.-ft. facility for $85 million.
The center, which supplies all of H&M’s Eastern European stores as well as serves as its primary European e-commerce logistics hub, will be leased back to H&M.
“We were attracted to the long-term income provided by the lease, the strong guarantee of H&M and the high quality of the property," said Jeffrey Lefleur, managing director of W. P. Carey.