The properties contain a total of seven warehouses comprising 70,000 sqm. 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 sqm. The property in Grodzisk Mazowiecki includes two warehouses containing 40,000 sqm.
Hines 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 sqm.
"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 sqm, 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.
The Hines Russia & Poland Fund (HRPF) is a Luxembourg-based fund which was formed in 2012 to invest more than €900 million into Russian and Polish real estate investments. This is the fourth Hines fund with a strategy to invest in Russia and Poland. Equity has been committed to the fund from a diverse group of financial institutions, sovereign wealth funds, pensions, trusts and other institutional investors from Europe, Asia and the United States. The fund targets to invest approximately 80 percent of its capital in Russia and 20 percent in Poland. (source: europaproperty.com)