Proximo I

GLA: 29,200 sq m + 428 parking spaces, 95% occupancy upon transaction, BREAM Excellent certification, designed by Rolfe Judd, developed by Hines in 2016, general constructor Hochtief Polska, location on Prosta, Wola CBD, Key tenants: Stanley Black & Decker, Gruppa Pracuj, Takeda, Manpower.
Name of the deal Proximo I
Information about the transaction project/projects/portfolio GLA: 29,200 sq m + 428 parking spaces, 95% occupancy upon transaction, BREAM Excellent certification, designed by Rolfe Judd, developed by Hines in 2016, general constructor Hochtief Polska, location on Prosta, Wola CBD, Key tenants: Stanley Black & Decker, Gruppa Pracuj, Takeda, Manpower.
The date of closing the deal 9.8.2017
Value of the transaction (in EUR) ca. EUR 117 mil
Yield Confidential
Seller, plus brief information about the company The seller was the Hines Russia & Poland Fund, which is sponsored and managed by Hines. Hines Polska developed the building in 2016.
Consultancy which advised Seller Cushman & Wakefield, Crido Legal, Dentons
Purchaser, plus brief information about the company The property was acquired by REICO IS CS on behalf of the CS nemovitostni fond (CSNF). CS (Ceska Sporitelna) is the largest Czech retail bank and the CSNF is the largest and oldest Czech real estate mutual fund which was founded in 2007.
Consultancy which advised Purchaser CBRE, TPA Polska, CMS , DIL Polska
Financing institution pbb Deutsche Pfandbriefbank
Current occupancy level 95%
Please say why this deal should be considered for the award Prime building and prime pricing for an up-and comming Wola location in times of increased uncertainty of tax environment. For the buyer, the deal was market entrance to Poland, for the seller the deal was to sell to a party with no track record in the market to date. Jury should consider smooth deal completion despite all the challenges.
Name of the deal
Proximo I
Information about the transaction project/projects/portfolio
GLA: 29,200 sq m + 428 parking spaces, 95% occupancy upon transaction, BREAM Excellent certification, designed by Rolfe Judd, developed by Hines in 2016, general constructor Hochtief Polska, location on Prosta, Wola CBD, Key tenants: Stanley Black & Decker, Gruppa Pracuj, Takeda, Manpower.
The date of closing the deal
9.8.2017
Value of the transaction (in EUR)
ca. EUR 117 mil
Yield
Confidential
Seller, plus brief information about the company
The seller was the Hines Russia & Poland Fund, which is sponsored and managed by Hines. Hines Polska developed the building in 2016.
Consultancy which advised Seller
Cushman & Wakefield, Crido Legal, Dentons
Purchaser, plus brief information about the company
The property was acquired by REICO IS CS on behalf of the CS nemovitostni fond (CSNF). CS (Ceska Sporitelna) is the largest Czech retail bank and the CSNF is the largest and oldest Czech real estate mutual fund which was founded in 2007.
Consultancy which advised Purchaser
CBRE, TPA Polska, CMS , DIL Polska
Financing institution
pbb Deutsche Pfandbriefbank
Current occupancy level
95%
Please say why this deal should be considered for the award
Prime building and prime pricing for an up-and comming Wola location in times of increased uncertainty of tax environment. For the buyer, the deal was market entrance to Poland, for the seller the deal was to sell to a party with no track record in the market to date. Jury should consider smooth deal completion despite all the challenges.

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