Bank of China provides a loan to CGL Holdings to refinance the acquisition of two distribution centers in Łódź and Bolesławiec

Project narrative

In January 2020, CGL Investment Holdings Corporation Limited — a Hong Kong-incorporated and headquartered Chinese global private equity and infrastructure investment manager formed by the state-owned China Nanshan Development, CNIC Corporation and China BOCOM Insurance and focused on logistics and warehouse space — purchased two newly-built warehouse and distribution centers in Łódź and Bolesławiec from Invesco, with a total space of 105,000 square meters. The centers were under lease to Amazon, Inc. for 15-years and built to its specifications in 2018 and 2019 before being occupied by Amazon in summer 2019. The centers served as logistics hubs in Central Europe serving the German market. CGL Bolesławiec Park consisted of a single story class A warehouse designed to handle and ship small inbound items to fulfillment centers and internal office-social accommodation on a 15.6502 hectare plot in Okmiany, Chojnów commune, Legnica County, Lower Silesian Voivodeship, 11 kilometers west of Chojnów, 30 kilometers west of Legnica, and 100 kilometers west of Wrocław. It had a total gross leasable area (GLA) of 59,953 square meters, including 52,790 square meters of warehouse space and 7,163 square meters of office space and social areas. It had 458 car parking spaces, 127 heavy goods vehicle (HGV) parking spaces, 28 bus parking spaces, and 78 docks. CGL Łódź Park consisted of single story class A logistics warehouse designed to handle safety of Amazon associates while handling flammable liquid or aerosol products and with internal office-social accommodation on a 18.6328 hectare plot in Pawlikowice, Pabianice County, Łódź Voivodeship, 20 kilometers southwest of the center of the city of Łódź. It had a total GLA of 44,808 square meters. It had 312 car parking spaces, 58 HGV parking spaces, 14 bus parking spaces, and 28 docks. Sometime after the acquisition, but before August 2024, the Polish Branch of the Bank of China (BOC) issued a loan to CGL Investment Holdings to refinance the acquisition of the distribution centers.