Redefine Properties Ltd. purchased a 95% stake in a nine-property portfolio of logistics assets across Poland for €185.8 million.

The properties were bought from an unnamed fund managed by a U.S. global asset manager, with Griffin Real Estate holding the remaining 5% interest.

Spanning a combined 313,507 square meters of gross leasable area, the portfolio is 98% leased with a 3.5-year weighted average lease expiry. Its tenants include Kaufland, Carrefour, Saint Gobain, Hellmann, Terg (Media Expert), Eurocash, Ceva, BrandBQ and DSV, among others.

The Johannesburg-based diversified real estate investment trust also signed an exclusive priority rights agreement with Panattoni, the developer of the nine properties in the portfolio, for a pipeline of 24 new warehousing and logistics developments.

The planned warehouse and logistics assets will encompass a total gross leasable area of 1.9 million square meters, which Redefine will have the right, but not the obligation, to buy.