Standard Life makes Polish property debut

Standard Life Investments has made its first direct investment in the Polish property market. In a joint venture with Panattoni Development Company, Standard Life Investments' Select Property fund is developing a 50,000sqm distribution warehouse facility located in Lodz, Poland. The Select Property fund is also developing a second distribution warehouse facility in Plzen, Czech Republic, in another joint venture with Panattoni. During the last five years, Panattoni has averaged nearly 10 million square feet of development annually. The company, headquartered in California, has developed and...