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Hines acquires two more logistics facilities in Poland

The Warsaw office of Hines, the international real estate firm, announced today that the firm’s Hines Russia & Poland Fund (HRPF) has purchased two logistics facilities from TMW Pramerica Property Investment GmbH.

The properties contain a total of seven warehouses comprising 70,000 square meters. They are located in Gadki and Grodzisk Mazowiecki, both in close proximity to the A2 motorway, which connects Warsaw with Berlin. The facilities were constructed between 1995 and 2004 as build-to-suits for the Raben group, a large logistics outsourcing firm. Raben remains a tenant in each property.

The facility in Gadki contains five warehouses with a total area of 30,000 square meters. The property in Grodzisk Mazowiecki includes two warehouses containing 40,000 square meters.
H
ines Poland will serve as asset manager and property manager. The transaction increases the portfolio of industrial space managed by Hines in Poland to approximately 340,000 square meters.

– We were attracted to these assets due to their key locations and solid tenancy. We think Poland is a good place to invest in the medium and long-term – said Mieczysław Godzisz, senior managing director and country head for Hines in Poland. – In addition to growing our presence in Poland to more than 500,000 square meters, these acquisitions enhance Hines’ large global portfolio of industrial facilities.

Jones Lang LaSalle represented the seller in the transaction with legal services provided by Cameron McKenna. Legal services for Hines were provided by Norton Rose.

Hines entered the Polish real estate market in 1996. Among the firm’s most notable development projects are Metropolitan in Warsaw, Quattro Towers and Centrum Biurowe Neptun in Gdansk, and Arboretum in Lodz. Including this recent acquisition, the firm currently owns or manages 3.2 million square feet in Poland, including Sterlinga Business Center in Lodz; and a logistics portfolio with properties in Warsaw, Upper Silesia, Sosnowiec and Wroclaw.

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