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Hines Poland Sustainable Income Fund acquires Nestlé House office building

Hines, an international real estate company, has announced that the Hines Poland Sustainable Income Fund has purchased the Nestlé House office building (formerly known as Pacific Office Building) from Kronos Real Estate. Hines has been managing this building since January of this year. Nestlé House is located at Domaniewska 32 Street.

Nestlé House, an A Class building, offers over 16,400 square meters of office space and over 1,400 square meters of commercial space across eight stories. The building is conveniently located at Domaniewska Street, close to the metro. Nestlé group companies will be the largest tenant. Finishing works in the offices are currently under way. The other major tenants are Warbud group companies and IMCD.

"We are very happy with the purchase of Nestlé House, as both the building and the tenant mix are a class of their own. The entire Hines team is proud of this acquisition," emphasized Mieczysław Godzisz, senior managing director of Hines Poland.

The building's convenient location in a dynamically growing business part of Mokotów guarantees easy commutes to and from other parts of Warsaw. Access to the multitude of public transit system options, including metro line 1, as well as the short distance to the Chopin Airport, provide additional advantages.

“We are very pleased to add Nestlé House to Hines Poland Sustainable Income Fund’s growing portfolio,” said Leo Chen, fund manager HPSIF.

“The sale of the building is the second transaction since August 2014 finalized jointly by Kronos Real Estate and the Hines Poland Sustainable Income Fund. We are proud that such a fund as HPSIF once again decided to purchase the project from our commercial real estate portfolio. One of the most important elements of our business strategy is to develop high-quality, flexible and well-located office space that fully meets the needs of the tenants. We also hope that the new owner will appreciate the high quality and the potential of the office building realized by us,” said Alberto Esgueva Gutiérrez, president of Kronos Real Estate.

At this transaction, Hines Poland Sustainable Income Fund was represented by JLL, and Kronos Real Estate was advised by CBRE. Legal representation of the fund was handled by Dentons and the seller was represented by the law office Góralski & Goss Legal.

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